The paper “ Monitoring Marketing Strategies and Tactics for Fruit Juice Drinks" is a forceful example of an assignment on marketing. For the marketing campaign to succeed, it is important that marketers do make regular checks as to the effectiveness of the marketing strategy. This ensures that the management is able to control in an effective manner how the marketing strategy is working out. The measures that would need to be considered include a sales analysis. The quantity of sales for the fruits juice both in terms of units sold and the returns is very important to determine how profitable the enterprise is (Silk 2006, 123).
The other important element is expense analysis. The marketing expense to sales ratio is crucial as it determines whether the expenses incurred are justifiable. Market share analysis is another important metric to determine how well the fruit juice business is doing. A high and rising market share is an indicator of the fact that brand is popular with customers while a declining market should be a cause for alarm. Financial analysis is an integral part of determining if marketing strategies are going well.
Businessmen engage in business activities with the aim of making a profit. Financial analysis includes a number of items that are very important in determining whether the activities of the business are worth all the effort. Two of the most important measures are gross profit and net profit. Gross profit refers to the difference between sales and cost of sales. A high amount of gross profit indicates that a business has the potential to make good returns for the business owners (Silk 2006, 129).
Net profit is perhaps as important if not more important than the gross profit. Net profit is the difference between the gross profit and other expenses such as rent, administrative expenses, discounts, and others. A high net profit reflects expenses that are well managed while a low net profit indicates unmanageable expenses for the business. 2. Monitoring of the company's objectives In order to achieve the overall objectives of the organization, the management needs to monitor a number of elements that are critical for the success of the business. The product, in this case, the juice, should be one that satisfies the demands of the consumers.
The product does have a life cycle starting with growth, maturity and finally a decline in sales. The marketers for the juice need to assess the likely length of the juice's life cycle. Taking such an approach would enable marketers to anticipate various challenges that are likely to arise in the lifetime of the product. The marketers for the juice would look at the possibility of increasing the capacity of the production lines that produce the juice so as to increase the quantity.
In order to ensure that higher sales are realized, the marketers should ensure that they exploit the good brand name for the company or work hard to build a strong and reputable brand (Powell 2008, 79). Promotion is another element that determines whether an organization meets its set target or not. The marketer should make use of all necessary methods of communication so as to reach all people who would be expected to consume the juice (Austin 1996, 25). The marketers would have to choose the forms of communication that are cost-effective and reach the highest number of people possible.
Advertisement could be through social media and the internet in general, radio or even television (Powell 2008, 82). The company could also consider engaging in public relations activities such as participating in trade fairs, exhibitions and offering sponsorships. It is important to ensure that members of the public have good opinions on the fruit juice as this would help through word of mouth advertisements by referrals from a satisfied customer to a potential customer.