1.

Explain How Marketing Management And Metrics Allow Service Organizations To Implement And Measure Their Marketing Strategy?

Answer»

•To create an effective, cost-efficient marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate.
•After the firm's strategic objectives have been identified, the target market selected, and the desired positioning for the company, product, service or brand has been determined, marketing managers focus on how to best implement the chosen strategy.
•Marketing management often makes use of various organizational control systems to ENSURE marketing programs ACHIEVE desired objectives, and do so in a cost effective manner.
•It is the responsibility of marketing managers to ensure that the EXECUTION of marketing programs achieves the desired objectives in a cost-efficient manner.
•Common service marketing metrics include net SALES billed, number of product or design registrations, brand surveys to measure brand AWARENESS, return on the investment, and website hits.

•To create an effective, cost-efficient marketing management strategy, firms must possess a detailed, objective understanding of their own business and the market in which they operate.
•After the firm's strategic objectives have been identified, the target market selected, and the desired positioning for the company, product, service or brand has been determined, marketing managers focus on how to best implement the chosen strategy.
•Marketing management often makes use of various organizational control systems to ensure marketing programs achieve desired objectives, and do so in a cost effective manner.
•It is the responsibility of marketing managers to ensure that the execution of marketing programs achieves the desired objectives in a cost-efficient manner.
•Common service marketing metrics include net sales billed, number of product or design registrations, brand surveys to measure brand awareness, return on the investment, and website hits.



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