A.How Would This Firm Benefit From A Marketing Dashboard
1348 WordsMar 11, 20176 Pages
a. How would this firm benefit from a marketing dashboard approach?
Amazon would benefit from a marketing dashboard approach in that it would help the firm to have the most up-to-date information necessary to better run their daily operations. For example, Amazon.com would be able to receive updated data on the company’s actual sales versus forecast sales, the progress of their marketing plan and objectives, brand equity evolution, sales force productivity, effectiveness of its distribution channels, etc. With all this information, it would be easier for Amazon to align the company’s marketing objectives with the company’s financial objectives and corporate strategy. In addition, Amazon would benefit from this approach because it would…show more content…
Secondly, Amazon would need to make sure that its tactical marketing metrics, calculations, and ratios used to assess brand awareness results, customer trials, lead conversion, and so on, do not overshadow measures of strategic importance to the firm according to Greg Marshall and Mark Johnston. And finally, besides its marketers, it is extremely important to market the dashboard to the company’s key stakeholders, such as its senior executives, the CEO and CFO.
2. Pick any two of the marketing metrics presented in the chapter. For each, pick any brand or product and discuss how each of those brands or products would benefit from the application of each of the marketing metrics you selected. That is, what will the information reveal that will be useful in marketing planning?
Penetration could have been one of the marketing metrics Amazon would have used after maybe the first year its voice-commanded device, Amazon Echo (Alexa), was released. Since the product was first introduced to a specific population, I feel it might have very easy for them to calculate the number of Amazon Echo units that were bought and divided by the total number of Amazon Prime members. By determining the market penetration percentage, it might have been how Amazon decided to seek sales growth and expanding the product to the entire population. This might be the reason we are now seeing more “Alexa’s” commercials compared to prior years when the product was released. On the other hand,