MKT 421 Marketing Week 2 DQ 2 What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? How can a company’s marketing organization ensure that it is able to identify newly emerging competitors in time to plan and execute an effective marketing strategy in response to these competitors? MKT 421 Marketing Week 2 DQ 3 What are the different types of buyers and consumers? How does the type of buyer or consumer affect marketing strategy?
3. As a result of this YOU DECIDE exercise, what did you personally learn about communication planning and product sales? Can use the reference book Marketing Management by Kotler & Keller if you need any info to help answer this
To do this it will be necessary to review the actual customer data for the service in question for past periods. Customer service data helps identify the factors, both positive and negative, that influence new business. By understanding the relevant patterns and conditions it is possible to create new customer service delivery plans that maximise desired influences while minimising those that are undesirable. ASSESSMENT ACTIVITY 3: Describe the process for researching customer needs and analysing and interpreting the outcomes to establish business options and opportunities. Consideration of past performance and analysis of the new data and records currently held in the organisation will give
• Identify quantifiable elements that can be used to evaluate, monitor, and control marketing effectiveness. Week Two: Marketing Research • Justify the importance of marketing research in the development of marketing strategy and tactics. • Analyze the importance of competitive intelligence and analysis in marketing. • Identify various segmentation criteria that impact target market selection. • Describe the various types of organizational buyers and consumers and the factors that influence their purchasing decisions.
BSBCUS501C: Manage Quality Customer Service Assessment 2: Why is it necessary to clearly identify, before designing product and service offerings, customer needs, and what are some of the less obvious service aspects that might inform purchasing decisions? Customers are fully aware that if a company is not able to provide them with a service or offering to meet their needs, one of the competitors will be able to. With this in mind, it is essential for business’ to research and communicate with their customers to gain the relevant feedback required prior to development. Development should reflect research findings and should meet customer and market needs. Internal and external customers provide business with information about how their products are used, new opportunities for their business, trouble-shoot issues with their product, and organise workloads.
(graded) a) How can sales managers use the recruiting process to ensure that the salespeople that are hired are good team players? b) What kinds of questions can be asked in the interview to test if a candidate has strong teamwork skills and experience? c) What are some of the problems associated with poorly-executed recruitment and selection of sales people? MKTG 420 Week 4 DQ 2 Training The first and most important step in designing a sales training program is the assessment of training needs, which provides the starting point for setting training goals and designing the program. (graded) a) Discuss the methods of assessing sales training needs.
(target market), How can these customers be served best? (value proposition) -Selecting the Customers to Serve First of all, company must decide which customers it will serve. This is done by dividing the market into segments of customers (market segmentation) and selecting the segments it will enter (target marketing). - Choosing a Value Proposition After selecting the customers to serve, the company must decide how it will serve to its target market- how to differentiate and position in the marketplace. Value proposition can be defined as the company’s set of benefits and values it offers to customers.
These indicators go beyond financial statement figures, such as sales and net income, to include measures tailored to the client and its objectives. Such key performance indicators may include market share, sales per employee, unit sales growth, unique visitors to a Web site, same-store sales, sales by country, and sales per square foot for a retailer. ASSESS CLIENT BUSINESS RISK The risk that the client will fail to achieve its objectives related to (1) reliability of financial reporting, (2) effectiveness and efficiency of operations, and (3) compliance with laws and regulations PERFORM PRELIMINARY ANALYTICAL PROCEDURES a. Auditors perform preliminary analytical procedures to better understand the client’s business and to assess client business risk. One such procedure compares client ratios to industry or competitor benchmarks to provide an indication of the company’s performance.
6). Consumer behavior can give some insight to the way a consumer makes a decision about a particular product or service. The thought process behind a visit to a certain store or a website is also a part of consumer behavior. Organizations want and need to know about how a person decides to use certain services or products. The same organizations must know what thoughts or feelings keep customers away.