Metrics Are Measuring Systems That Give The Quantity Of A Trend, Dynamic Or Characteristic Essay

In the final phase, there were four metrics are difficult for me to understand includes the brand and market penetration, the share of requirements and the customer profitability. I could not confirm which data was represented the “Total Population” and I still confused about the meaning of share of requirements. Additionally, I have been unable to determine whether the last two columns of data (Category spending and Subcategory spending) in the dataset were used to calculate the Share of requirements formula. In my mind, the ‘80:20 rule’ usually refers to the 80% profits came from the 20% of customers, nevertheless, 20% of the customers would generate above 100% profits based on the analysis of “whale curve” (Čermák, 2015).

Whenever new metric are introduced, it is very important that everyone is communicated the updates quickly. The first line of communication should start with management. When training management on new metric, a reference guide or a point of contact should be given for additional support. The objectives of management should consist of grasping the concepts of new metrics, ability to explain the concept of new metrics, and ability to evaluate employees with new metrics.

Devise and document measures and procedures for measuring the impact of the research information on the marketing decisions

Image differentiation also can take as a differentiation strategy at Ben & Jerry's. Generally a person reacts in different ways to the images of company and brands. Image is the means that the public becomes aware of the company or its products. Effective image ascertain the value of the product in the minds of the consumer. In

Does the source of data either internal or external shed light on the objectives? [11].

Brand competitors and the diversity of choice that is available to consumers, puts brands under pressure to offer high quality products and service, excellent value and a wide availability (Clifton et al., 2009). Brands must differentiate themselves from the competition and create an unforgettable impression.

Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.

Maytag formed a cross-functional new product development team to quickly focus the effort. It screened various product ideas and strategies on criteria such as potential for superior customer value, initial costs, long-term growth, social responsibility, and profitability. Using nearly 40 pieces of consumer research, the team refined what the strategy might be and what it would cost. Marketers today have better marketing metrics for measuring the performance of marketing plans. They can use four tools to check on plan performance: sales analysis, market share analysis, marketing expense-to-sales analyss, and financial analysis. Sales analysis consists of measuring and evaluating actual sales in relation to goals. Market share can be measured in three ways. Overal market share is the company's sales expressed as a percentage of total market sales. Served market share is its sales expressed as a percentage of the total sales to its served market. Its served market is all the buyers who are able and willing to buy its product. And relative market share can be expressed as market share in relation to its largest competitor. Annual plan control requires making

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

23) Brand parity is the belief that multiple brands consist of or offer the same set of attributes and benefits and are of equal quality.

To create differentiation of the product from other brands, Hyflux focus on these dimension to acheive: product, service, channels and image differentiation. The product differentiation used by Hyflux

Marketing is perhaps the most important activity in a business because it forms the communication bond between the customers and the company, and it’s a key aspect of communicating the value of the product.

Furthermore, the research is also based on measuring the results of various strategies of marketing to find out the one that works appropriately.

The process of communicating the value of a product or service to customers, for the main purpose of selling that product or service is known as marketing. The science of choosing target markets through market segmentation and analysis, and understanding consumer behavior while providing superior customer value to the customers is termed as Marketing Management. It can be looked at as one of the most important of the organizational functions and a set of processes for creating, communicating and delivering the value to their customers or potential customers, and a customer relationship management that benefits the organization in a variety of ways.

Market analyze is very important to get customers feedback. By gathering market data , market growth the organization will get to know about the competitors.