Marketing Evaluation in Reality

We all knew that there have many ways to evaluate the marketing plan. But, why we need to evaluate the plan of marketing? Because, we need to know how the products or brand performing after we set a marketing plan on it. In other words, we need to know our marketing plan working or not. Therefore, there have many ways to evaluate out marketing plan. For example, the marketing metrics can use to evaluate the marketing plan due to those marketing metrics can measure the performance to the marketing plan. The marketing metrics are including financial metrics, customer profile metrics, behavioural metrics, memory metrics, physical availability metrics and marketing activity metrics. Moreover, according to the Mintz and Currim (2013 p.32), their result suggested that using marketing metrics to evaluate the marketing plan which is positive to associate with performance.

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Source: smallbusiness.chron.com

In addition, there still have many way to evaluate the marketing plan. According to the smallbusiness.chron.com ( Morello), he mentioned that there have 7 ways to evaluate the marketing plan which are including return on investment (ROI), sales numbers, customer response, expansion, partner response, salespeople and competitor response. Even though, there actually have many ways to evaluate the marketing plan, but which ways is the  best? It is hard to say which way is the best as long so those ways can actually evaluate correctly and precisely in the particular marketing plan so that is the way that we can use.

3 questions to evaluate the marketing plan 

As I mentioned before there have many ways to evaluate the marketing plan, but i found a different insight about how to evaluate the marketing plan. The 3 questions to evaluate the marketing plan which is more simple and more directly cutting to the main point. How is the questions work? For example,assume you are a marketing manager and  you see a ads from your company through the  television or on the Facebook page, what would you think? For this circumstance, you can ask yourself 3 questions to evaluate your company’s ads. The questions are below.

Question 1: Do I want to see it again?

Question 2: Do I want to share it?

Question 3: Do i want to improve it?

The explanation of those 3 questions which is that the whole evaluation of  marketing plan do not need to make complex and just make it as simple as you can. Because, once the evaluation of marketing plan become simple and that would more easy and straight to the point which we want find. For example, the question 1 ” Do I want to see it again?” if the answer is yes and that means the ads is attractive vise versa. Therefore, the whole process of evaluation can be more easy and efficiency. Of course, those ideas are not come from my mind. Those ideas are come from a man who in named by Kevin Robert, Kevin Robert is the chairman of Saatchi & Saatchi, Saatchi & Saatchi is one of the world’s leading creative organisations with over 6500 people in 70 different countries. Maybe he is not totally right about how to evaluate the marketing plan, but a least this is a whole new idea and also an interesting idea for me. Therefore, if you are also interesting in his idea then you can take a look his video down the below and you will find out more.

By Bin-An Hsiao

Username: binanhsiao

E-mail:bhsia@deakin.edu.au

Student ID:214321149

References list

Kevin Roberts: 3 Questions to Evaluate a Marketing Campaign, YouTube, World of Business Ideas, 8 August 2013, retrieved 22 May 2016, < https://www.youtube.com/watch?v=HXr0zqgKbSI >.

Mintz, O, & Currim, I 2013, ‘What Drives Managerial Use of Marketing and Financial Metrics and Does Metric Use Affect Performance of Marketing-Mix Activities?’, Journal Of Marketing, 77, 2, pp. 17-40, Business Source Complete, EBSCOhost, viewed 19 May 2016.

Morello, R , 7 Ways to Evaluate Your Marketing Plan, retrieved 22 May 2016, < http://smallbusiness.chron.com/7-ways-evaluate-marketing-plan-58331.html >.

 

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