You are a marketing manager for a manufacturer of nonperishable products sold in
ID: 3205339 • Letter: Y
Question
You are a marketing manager for a manufacturer of nonperishable products sold in grocery stores. In this role, you need to make various decisions about how much marketing/advertising support is needed by each product to maximize the profitability of the organization. Assess how the effectiveness of individual marketing/advertising approaches would be determined. Discuss how historical sales data, as well as promotional response data, can aid you in evaluating the effectiveness of the individual marketing/advertising approaches. Support your discussion with relevant examples, research, and rationale.
Explanation / Answer
Since this is the business of nonperishable items, so it has huge expected competition in the market especially in FMCG domain. We need a great potential in marketing activities and its great effectiveness. We can categorise the marketing activities such as:
1) Offline marketing: pamphlets, add in news paper etc
2) Online marketing: social media, email etc
3) Point of Sale merchandising
In order to measure the effectiveness of these categories of marketing, we can gather the data i.e. sales impacted by the marketing act. To measure this, we can collect the pre & post campaign data and check if there is any significant change in sales maybe at product category level. This comparison can be done using t-test.
We can also have multiple population comparison using 1way ANOVA where type of add would be a factor.
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