Chapter 13: Implementing and Monitoring the Marketing Strategy

Question 1

Implementing and Monitoring the Marketing Strategy (Measuring Success)

Answer 1

• This could be as simple as looking at sales figures, profits or the number of hits on a website.
• However, it could entail more detailed research (often called ‘marketing research’ to distinguish it from ‘market research’) to understand how consumers are reacting to the strategy.
• The simplest form of this is to ask consumers directly for feedback, either individually or through a focus group. If one of the objectives of the marketing strategy is to improve the brand image, consumers could be asked how they perceive this to see if there has been any improvement.

Question 1

Implementing and Monitoring the Marketing Strategy

Answer 1

• Marketing is a dynamic process and the strategy needs to be kept under constant review to check that it is working as intended. If necessary, the company should consider making changes to the strategy or even the objectives.
• Ultimately, the decision may have to be taken to abandon the marketing process and withdraw a product from sale if it is considered that the objectives will never be met.

Question 2

Implementing and Monitoring the Marketing Strategy (Eye tracking)

Answer 2

• More complex processes include eye-tracking to analyse how consumers look at websites, store layouts and adverts, and viral marketing research, which estimates the probability that specific communications will be transmitted throughout an individual’s social network