Assignment:
1. Review the various jobs in the marketing organization. What areas appeal to you and why?
2. Many firms use automated marketing performance systems. Describe the value of deploying a marketing performance system. What are some of the key marketing metrics applied? Go online and review a few of the commercially available marketing systems. Name a few identified and the advantages they state they provide. Do you agree
3. What are some of the ethical dilemmas faced by marketers in emerging markets? Name a few of these markets with examples of such dilemmas.
4. Pick a consumer focused brand (for example, Nestle) and one of its "new product offerings." What are some of the key metrics marketing will apply to measure/track the product performance throughout its life cycle. Why? How might these metrics be unique for the online sale/marketing of the product?
5. You state, "In the most common form of marketing organization, functional specialists report to a marketing vice president who coordinates their activities. Others might include a customer service manager, a marketing planning manager, a market logistics manager, a direct marketing manager, and a digital marketing manager." How has the digital environment impacted this view of a functional marketing organization? Today we have the CMO closely aligned with the other C-level executives in creating a holistic marketing environment. Thoughts on this?
6. You state, " ...interact with the various teams within the department regularly however, I think that to be more effective as a marketer you can't work in a silo." Insightful discussion and feedback on this area. The idea behind a holistic marketing approach is to integrate both within and externally with all stakeholders marketing is involve with. Most organization today apply such an approach. This includes, demand generation, promotion, product development, etc. What are some of the challenges with this approach for marketing? Further thoughts?
7. You state, "Customer loyalty really extremely important if companies want to continue being successful..."Please elaborate on customer loyalty from a marketing perspective, that is why important for marketing? How is the leverage in demand generation, promotion efforts, etc. What are some challenges with managing and applying customer loyalty in marketing campaigns? Further thoughts?
8. When does metric use matter less?
This electronic reserve reading focused on whether or not marketing mix decisions based on statistical metrics were valid to drive management decisions. "Results suggest that the impact of metric use on marketing mix performance is lower in firms which are more market oriented, larger and with worse recent business performance and for marketing and higher-level managers, while organizational involvement has a lesser nuanced effect" (Mintz & Currim, 2015, p.1). This is an interesting point that the company needs to focus on the marketing metrics that really matter to their business goals or that particular product. With the Internet and many automated marketing performance systems options, companies can obtain huge amounts of data. So what is important to meet the company's goals? The company has to choose the right metrics that are useful, understandable, and consistent/replicated to measure their needs. The electronic reserve reading added that "studying the moderation effects allows individual firms and managers to identify the settings in which metric use matters less to marketing mix performance, so they can design targeted metric compensation and training programs to increase metric use and improve performance in the settings identified" (Mintz & Currim, 2015, p.4).
Reference:
Mintz, O., & Currim, I. S. (2015). "When does metric use matter less?: How firm and managerial characteristics moderate the relationship between metric use and marketing mix performance." European Journal of Marketing, 49(11/12), 1809-1856.