The paper "Monitoring Marketing Performance" is a brilliant example of coursework on marketing. Overall measures of brand performance and KPI’ s, plus methods and sources of measurement Purina Company makes food for pets especially cats. Brand awareness is critical in the marketing of this product. It determines the reputation and the level of the brand of appreciation in the marketplace. When Purina products experience increased brand awareness, then it shows that the marketing initiatives launched are successful and results in greater sales and revenue. Owing to the robustness of the brand awareness scope, Purina has approached Multi-tech Consultants to conduct brand research studies for collection and data analysis.
In the channel grouping Path, the Purina brand keyword showed 425 times and 389 times for nonbrand keyword. The measures of performance employed are through panels, surveys, and focus groups to help in measuring brand perception levels which brings out customer loyalty, sentiment, and awareness. This helps to rate Purina products with those in competition. Planning ahead is crucial for successful brand awareness after understanding the initial idea of the company’ s position before launching the marketing campaign. The methods to track brand awareness are specifically in-house since they are free and less costly.
The online method of monitoring through Google Analytics is the major tool though it is less exhaustive than the full brand study. It shows the number of visitors to Purina websites, highly searched keywords and new customers give the feeling of brand awareness online. It is tracked throughout the campaign duration, thus giving a general overview of the campaign has brought in new visitors. Measures of product performance and KPI’ s, plus methods and sources of measurement Measuring the performance of Purina pet food products is best done on the company website.
Existing customers can give comments on the performance of the products in the form of compliments or complaints. Each medium is tagged to show the comprehensiveness of the marketing campaign as well as identify the source of visitors. The “ UTM tags” are employed within Google Analytics that shows at the end of the URL. Purina product performance as sales KPI ranks and measures the product depending on revenue performance so as to know the products that need reassessment and those that are doing well.
Sales metric variations will show top-performing products and the bottom 10% of sales. This metric is measured over a period of time to eliminate data inconsistencies. The sources of measurement are in revenue performance where the best performing product in terms of revenue is ranked first while the worst revenue performing is ranked last. Measures of pricing performance and KPI’ s, plus methods and sources of measurement. The pricing performance of Purina products is leveraged on the basis of costs and revenue. The methods used are Cost, Volume and Profit analysis (CVP).