13. Implementing & Monitoring the Mktg Strategy

Question 1

What are the essentials of monitoring a marketing strategy?

Answer 1

• Constant review
• Changes to strategy or objectives when needed
• Strategy or product abandonment if objectives are not being met

Question 2

What are 5 methods of measuring success when monitoring a marketing strategy?

Answer 2

1. Sales figures
2. Website analytics
3. Marketing Research
4. Eye-Tracking
5. Viral Marketing Research

Question 3

What is Marketing Research?

Answer 3

Seeks to determine the efficacy of a marketing strategy, typically via customer feedback (interviews or focus group)

Question 4

What is Eye-Tracking?

Answer 4

Analyses how customers look at websites, store layouts and ads

Question 5

What is Viral Marketing Research?

Answer 5

Estimates probability that communications will be transmitted through an individual’s network, or their “Social Networking Potential”