Identify the key risks and benefits associated with measures

Assignment Help Marketing Management

Reference no: EM133202580 , Length: Wrod Count: 3000 words.

Assignment: Management Accounting for Marketers

Students referred in the assignment will be required to re-submit the original piece of work to a passing (40%+) standard taking into account feedback from the assessing tutor.

Measuring Marketing Success

The assignment involves looking at the google analytics database of google merchandise store to develop report which should cover:

I. Choice of a merchandise category and developing a strategic plan for expansion and sales growth.

II. Identification of six marketing matrices that will help in monitoring and evaluating the plan.

III. Justification of why these six matrices were selected and how these matrices can effectively help in the monitoring and tracking strategy implementation.

IV. Developing a dashboard to include these matrices.

Students should limit their assignment to 3000 words and should be able to demonstrate that they understand the key elements required in a strategic plan and explain their choice of marketing matrices from the google analytics database.

Accessing the google analytics database for the google merchandise store as well as basic process to explore the database will be explained in the lectures and workshops. The key idea behind this assignment is demonstrate knowledge to identify and construct marketing matrices, draw from the lectures and other workshop material discussed during the sessions to critically link marketing matrices to their strategic purpose. Understand how marketing matrices work as well as including these matrices into a dashboard.

This assignment is aimed at meeting the following learning outcomes:

1. Demonstrate an understanding of the principles of management accounting including the techniques used to interpret financial information and performance contained in key financial statements

2. Demonstrate an understanding of a range of metric and analytical tools (both quantitative and qualitative) to evaluate marketing activity within the micro and macro environments and forecast marketing ROI

3. Demonstrate an understanding of the impact of data volume and quality upon the validity of analytics reporting and apply a range of numeric techniques to marketing data for the purposes of analysis, testing and interpretation.

4. Assess the role of key performance indicators (KPIs) in the effective planning, control and evaluation of business and marketing activity to enable success measurement

MARKETING PLAN

Depending on the nature and type of product (or service product) students can use Kotler's 4 management controls or the 4ps or 7ps model to develop their plan which will include:

1. An outline marketing plan (with rationale) based on Smith's SOSTAC model and including 4-6 SMART objectives

• MARKETING METRICS

Students will need to:

1. Explain and justify their choice of 6 measures ensuring they cover the strategic objectives developed for the merchandise

2. Identify the key risks and benefits associated with each of those measures, and any potential limitations

3. Explain how these measures will work to measure the overall effectiveness of the marketing plan

• MARKETING METRICS DASHBOARD

1. Students will have to demonstrate the dashboard and explain what type of data will be fed into the dashboard and why.

• REFERENCES AND EVIDENCE

1. A complete reference list of the academic, industry and sector sources used to inform marketing planning and forecasting

2. Referencing and citation should meet Harvard protocols

Reference no: EM133202580

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