6. The marketing funnel is an effective tool for managing products. Describe the
ID: 2747128 • Letter: 6
Question
6. The marketing funnel is an effective tool for managing products. Describe the marketing funnel and its role relative to specific actions/decisions a marketer might make. Additionally, Evaluate the following CP toothbrush purchase funnels from two national markets. All numbers are percentages of the total target market (e.g., 80% of all U.S. targeted customers are aware of CP toothbrushes; 60% of all U.S. targeted customers are interested in CP toothbrushes; etc.). How does each country compare on (a) marketing communication effectiveness and (b) customer satisfaction? Discuss tactics that the product manager might consider in view of the CP toothbrush information presented above. U.S. Mexico Awareness 80% 70% Interest 60% 25% Trial 40% 18% Repeat 15% 15%
Explanation / Answer
The marketing funnel is a system which helps in tracking the stages consumers or purchasers travel through to make a buying decision. It also lets us know what our company needs to do to help influence consumers at each stage, such as a follow – up telephone call or sending positive press reviews and so on. Marketing personnel guide these prospective customers through the funnel using strategies that are designed to be effective at each stage.
Particulars
US
Mexico
Awareness
80%
70%
Interest
60%
25%
Trial
40%
18%
Repeat
15%
15%
From the table above we can understand that as far as marketing communication effectiveness is concerned US is doing better than Mexico as a larger population of the country is aware and the interest conversion rate with respect to awareness is high. Also a larger number of US people are interested in trying out the product.
When we look at customer satisfaction both countries are at par as the repeat percentage for both countries are at the same level. Maybe a larger number of people in the US are trying but only satisfied customers would repeatedly use the product. From the table we can see that repeat percentage for both countries is same.
The US Manager needs to evaluate why the conversion rate of repeat from trial is lower than Mexico. They need to take steps to improve customer satisfaction so that the repeat percentage in the US can go up.
On the other hand the Mexico marketing manager should look at improving the marketing communication so that a larger number of population can be tapped.
Particulars
US
Mexico
Awareness
80%
70%
Interest
60%
25%
Trial
40%
18%
Repeat
15%
15%
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