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
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)
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