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GLOBAL MARKETING

GLOBAL MARKETING. Strategy Implementation and Control. Shaping the Success of Strategy Implementation. Three Forces. Ownership of marketing plan. Supporting the marketing plan. Adaptive market planning. Ownership. Detailed action plans Champion/ownership team Compensation

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GLOBAL MARKETING

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  1. GLOBAL MARKETING Strategy Implementation and Control

  2. Shaping the Success of Strategy Implementation • Three Forces Ownership of marketing plan Supporting the marketing plan Adaptive market planning

  3. Ownership • Detailed action plans • Champion/ownership team • Compensation • Management involvement

  4. Marketing Tactic: To create adequate end user product availability, 80 manufacturer’s reps and 5 missionary salespeople will be used to sell and distribute our product to 5,000 industrial supply houses. * From time of implementation

  5. Support • Time • Resources • Communication • Skills

  6. Adaptation • Continuous improvement • Feedback measurements • Persistence

  7. Overall Performance Measures • Unit sales • Dollar sales • Sales in specific segments • Marketing costs • Production costs • Market share • Customer ratings of product quality • Customer ratings of service

  8. Program Performance Measures • New Product Programs • Rate of trial • Repurchase rate • Cannibalized sales • Number of customer returns

  9. Program measures, continued • Pricing Programs • Actual price charged • Price relative to industry average

  10. Program Measures, continued • Advertising Programs • Awareness levels • Attribute ratings • Actual expenditures • Consumer response index

  11. Program Measures, continued • Sales promotion programs • Redemption rates • Displacement rates • Stock-up rates

  12. Program Measures, continued • Distribution Programs • Direct response rates • # of sales calls • # of new accounts • # of lost accounts • # of distributors carrying product • # of customer complaints • Travel costs

  13. Other Control Actions • Contribution Analysis • Determine the amount of revenue expected from a given set of costs Required sales = Total FC ($) + desired gross margin ($) volume in units Gross margin contributed per unit

  14. Response Analysis • Predicting how large a % change in sales will occur when a variable in the marketing mix is altered. • Price changes • Advertising expenditures • Promotion expenditures

  15. Marketing Productivity • What is the return on marketing expenditures? How effective are the marketing expenditures in producing sales? Market = Net marketing contribution Productivity Marketing budget Market Efficiency = Net income Index Marketing expenditures

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