Remember To Write 3-4 Paragraphs Please Watch The Following

Remember To Write 3 4 Paragraphsplease Watch The Following Video And

Remember to write 3-4 paragraphs. Please watch the following video and then read the case: Assignment review Measuring Marketing Performance Most measures of business performance are internal financial measures, such as ROI, ROA, and cost per unit. Measures of marketing performance are external measures that consider customer perception and competitor position. Business and marketing performance measures can paint very different pictures.

Research the measures of marketing performance using mainly articles from the library's full-text databases. You may focus on an industry related to your career or rely on general research. Complete the following: discuss three measures of marketing performance; analyze the metrics used to evaluate these measures; and provide a case study of a company that exemplifies best practices in each measure. The case study section should be three pages long and utilize research from the library's full-text databases.

Research the net marketing contribution over the product lifecycle applying these concepts to real-world examples. Present two marketing strategies and analyze their short-term impact on net marketing contribution. Additionally, analyze how net marketing contribution varies in the introductory and late-growth stages of the product lifecycle.

Paper For Above instruction

Introduction

Measuring marketing performance is a vital aspect of modern business strategy, as it provides insights into how well a company's marketing efforts translate into customer engagement and competitive advantage. Unlike traditional financial metrics like Return on Investment (ROI) and Return on Assets (ROA), marketing performance metrics focus more on external indicators such as customer perception, brand equity, and market share. These external measures offer a nuanced understanding of a company's market position and long-term sustainability, often providing a different picture compared to internal financial indicators.

Three Measures of Marketing Performance

The first measure is Customer Satisfaction and Loyalty, which assesses how well a company meets or exceeds customer expectations. Metrics such as Customer Satisfaction Scores (CSAT) and Net Promoter Score (NPS) are employed to quantify this measure. For instance, Apple Inc. has consistently ranked high in customer loyalty metrics, reflecting its successful marketing strategies that foster strong brand allegiance (Kumar & Reinartz, 2016). These metrics help organizations gauge the likelihood of repeat business and word-of-mouth promotion, which are crucial for sustained growth.

The second measure involves Brand Equity, which evaluates the value of a brand as perceived by consumers. Measures such as brand awareness, perceived quality, and brand associations are critical here. Companies like Coca-Cola exemplify strong brand equity through their consistent messaging and global recognition, which bolster their market share and pricing power. Research indicates that high brand equity correlates with increased customer preference and resistance to competitive threats (Aaker, 1996). Brands that effectively manage and measure brand equity can adapt more quickly to market changes and innovations.

The third measure is Market Share Growth, which tracks the company's sales relative to competitors within the industry. This metric is straightforward and highly indicative of competitive positioning. For example, Amazon's rapid increase in market share in the e-commerce sector demonstrates its effective marketing and customer engagement strategies (Brynjolfsson et al., 2013). Monitoring market share allows businesses to assess the success of their marketing campaigns and product offerings, particularly in fast-paced markets where consumer preferences evolve quickly.

Analyzing Metrics for Evaluation

Metrics used to evaluate these measures vary in complexity and scope. Customer satisfaction is often gauged through surveys and NPS scores, which provide immediate feedback on consumer perceptions. Brand equity assessment employs brand tracking studies and perception surveys, which are more qualitative and longitudinal. Market share analysis is typically quantitative, relying on sales data, industry reports, and competitive benchmarking. Each metric requires careful interpretation; for example, high customer satisfaction does not always translate into increased market share, highlighting the need for a comprehensive evaluative approach.

Case Studies Exemplifying Best Practices

Apple Inc. is a prime example of excelling in customer satisfaction and loyalty, maintaining high NPS scores through innovative products and seamless customer experiences (Kumar & Reinartz, 2016). Coca-Cola exemplifies excellent brand equity, leveraging consistent branding strategies across markets to sustain consumer preference (Aaker, 1996). Amazon’s rapid market share growth, driven by relentless innovation and customer-centric strategies, illustrates effective competitive positioning (Brynjolfsson et al., 2013). These companies demonstrate how aligning marketing strategies with performance metrics can foster sustainable competitive advantages.

Net Marketing Contribution Over the Lifecycle

The net marketing contribution (NMC) measures the profitability of marketing efforts after accounting for the costs involved. In the introductory stage of a product lifecycle, NMC tends to be negative due to high marketing expenses aimed at awareness building and customer acquisition. Conversely, during the late-growth stage, effective marketing strategies can lead to a positive NMC by increasing sales volume and brand loyalty while decreasing marginal marketing costs.

Two marketing strategies—differentiation and penetration pricing—affect NMC differently. Differentiation strategies, emphasizing unique product features, often require significant initial marketing expenditure but can lead to higher margins and increased NMC in the long run (Kotler & Keller, 2016). Penetration pricing aims to quickly gain market share through low prices, which can boost short-term sales but may temporarily suppress NMC due to reduced profit margins. Over time, as brand recognition strengthens, NMC can improve through increased volume and cost efficiencies.

In conclusion, understanding and applying appropriate marketing performance metrics and lifecycle strategies enable companies to optimize their marketing investments and sustain competitive advantage over time. By continuously assessing performance and adapting strategies, firms can better navigate different product lifecycle stages and market conditions, ultimately delivering superior value to both customers and shareholders.

References

• Aaker, D. A. (1996). Building strong brands. Free Press.
• Brynjolfsson, E., Hu, Y., & Rahman, M. S. (2013). Competing in the age of omnichannel retailing. Communications of the ACM, 56(4), 26-28.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson.
• Kumar, V., & Reinartz, W. (2016). Creating Enduring Customer Value. Journal of Marketing, 80(6), 36-68.
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• Rosenbaum-Elliott, R., Percy, L., & Pervan, S. (2015). Strategic Brand Management. Oxford University Press.
• Seth, J. (2017). The Impact of Brand Awareness on Consumer Behavior. Wiley.
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