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Conducting marketing diagnosis for new product development

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Reference no: EM133392362

Marketing Fundamentals - Conducting marketing diagnosis for new product development Assignment Overview: 

As the marketing director for Kitsch Brewing Co. 

Describe evaluation tools and approach after the brewery has launched. How will  measure success? 

  • Present the top three Key Performance Indicators (KPI) that will be tracking.

The process to create  KPIs is quite basic: 

Question 1. Determine objective(s) for the upcoming year. The objective(s) is/are what outcome company want to achieve. The objective is an outcome of your strategy. 

Question 2. Determine how you are going to measure achievement (these are the KPIs) towards the objective. In this example, this objective typically includes any or all of the following KPIs: 

a) gaining new customers (how many?), 

b) selling more to current customers (usually as a % increase), 

c) adding a new product/service (what and why), 

d) increasing prices (usually as a % increase), 

or e) increasing customer satisfaction (as measured by objective customer satisfaction research) 

Question 3. Describe the tactics  will employ for the relevant 4Ps (product, place, price, promotion) to achieve  KPIs.

Reference no: EM133392362

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