D2C13&14 Monitor & Marketing Options Flashcards

1
Q

Why is monitoring marketing necessary

A

Marketing is a dynamic process
Need constant review to check if it is working as intended
If necessary, should consider making changes; or abandon marketing process and withdraw a product

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2
Q

Ways to measure the success of a marketing strategy

A
Looking at sales figures, profits or number of hits on website
Marketing research (distinguish from market research): : ask consumers directly for feedback; eye tracking to analyze how consumers look at websites, store layouts and adverts; viral marketing research (estimate the probability that specific communications will be transmitted throughout an individual’s social network - social networking potential)
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3
Q

List different ways in which companies can carry out marketing

A

In-house team
Outsource to some or all marketing functions to PR company or advertising agency
Work themself: small budget and relatively limited activity; take up valuable time
Become member of industry association which help promote members’ products

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