This is a marketing question QUESTION 1)Please explain why you reccomend these t

Question

This is a marketing question

QUESTION 1)Please explain why you reccomend these three marketing metrics,, (400words)

The three marketing metrics

1)Brand equity metrics

2)Salesforce coverage

3)Customer satisfaction

(relate to key organisational strength , justification based on eco -system conditions and potential information sources(both internal or external if required)

Justification based on ecosystem condition) (why the metrics you have selected are suitable in view of the ecosystem condition

Justification based on potential information sources ( why the information required based on the metrics you have selected are attainable )

Eco-system

1) identification of organizational strengths- The economies of scale are very high and thus the products are very competitive in pricing, Global presence in every nook and corner across the world , wide range of consumer goods offerings , and strong distribution network of their products.

2)Ecosystem condition: strategic alignment(marketing goal/objectives)- P&G focuses on innovation, marketing mix –providing cleaning agents, health care products, toiletries etc , focusing various market segments and creating brand awareness.

3)Ecosystem conditions Acess to data: type of information sought- P&G has a core team of professionals engage in market research continuously , they have deep penetration and presence of market analysts physically .They have continuous knowledge about consumer behaviour and buying patterns and market intelligence.

4)Ecosystem conditions Operational flexibility –All the cross functional departments are closely knitted and integrated with marketing department -innovation department to design as per consumer behaviour and needs, quality department to ensure product quality and services ,manufacturing team to ensure timely delivery with operational efficiencies and cost cutting measures to support cost competitiveness, efficient sales force to boost sales.

Explanation / Answer

P&G impressive portfolios, multi-brand strategy, brand management systems and brand extension strategies, strong salesforce, long-term forecasting, customer depth knowledge, strong research and development always aiming towards high-quality products are the key pillars for its success. P&G uses the competencies, skills and knowledge of all the employees to fulfil the customer desires and needs. It uses the brand equity metrics which is an aggregate of knowledge metrics, preference metrics and financial metrics. The knowledge metrics gives a detail about the brand awareness among the customers and the brand loyalty or brand attachment. It can be found when the customer returns the same product again and again. The preference metrics helps in assessing the position of the brand in comparison to the competitors. It is a process of comparison among the competitors. Financial metrics helps in assessing the monetary value of the brand which can be assessed by revenues, market shares, sales of premium products etc. The brand equity helps in assessing the organizational strength, its depth in the market, the distribution network and knowledge of employees.

According to the Global IT manager of P&G, salesforce gives the insight to the business because they are the people who deal directly with the customers, their preferences, their awareness about the product, their needs etc. The raw data is gathered from the salesforce and the data is provided to the research team who develop new products or try to fulfil the customer requirements. The global business services of P&G support in processing the information and helps in deciding on the corporate strategies, policies and regulations. P&G makes sure that their salesforce is getting the best training programs and they are developing their skills to ensure the customer gets the right knowledge of their products including the ingredients its benefits, its uses etc.

And the last marketing metrics used is customer satisfaction. Customers are treated as God in P&G. they believe they exist because of the customers. Among the five core strengths of the company, the first concern is understanding the consumer by uncovering the unarticulated needs. Conducting 15000 consumer research and interacting with 5 million consumers every year is the reason for its innovation and success. The insights from the customers give them the next level of information for creativity. According to P&G professional survey, 2014 it was found that customer satisfaction was given higher priority than company growth and profit. The customer preferences help in finding the gap which brings P&G closer to customers by the first mover advantage over its competitors.

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