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exam 2 - Marketing Accountability: the management of...

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Marketing Accountability: the management of resources and processes to achieve measurable increases in both return on marketing investment and efficiency while increasing the value of the organization in compliance with all legal requirements.oChallenges of Implementation: Lack of leadership support, financial support, technology, time and knowledge, and confidence.76% of marketers think marketing has changed more in the past two years than in the past 50.Marketing Measurement: collecting and evaluating marketing metrics to determine the effectiveness of marketing activities in fulfilling customer, organizational, and marketing objectives. oPrevious Efforts: Brand Awareness and Intention to PurchaseoCurrent Efforts: Advertising and Sales PerformanceKey Performance Indicators:oAverage revenue per customeroCost to acquire a new customeroCost to retain a customerAdvertising Measurement: collecting and evaluating advertising metrics to determine the effectiveness of an advertisement or advertising campaign in fulfilling customer, organizational, and marketing objectives. Advertising Effectiveness:oStrategically—Communication ObjectivesInforming CustomersCall to ActionoBehaviorally—AwarenessBrand Attributes: Quality and ConvenienceBrand Health: the collective consumer perceptions, attitudes, and expectations for a brand resulting from historical and current brand experiences. Return on Marketing Investment (ROMI): the impact on business performance resulting from executing specific marketing activities. Monitoring brand health is best done using a social media dashboard.Retailing: all activities involved in selling, renting and providing products and services to ultimate consumers for personal, family or household use.Retail Strategies: the decisions to be made regarding the establishment and ongoing operations of a retailer.The Retailing Mix: consists of the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise.Omnichannel Retailing: Providing a seamless, consistent, and integrated customer experience across all channels. It enables shoppers to buy any product, any time, and anywhere, return products in any channel, buy online and pick up in store.Automotive dealers are the type of retailers that are considered the largest with the highest sales.
30%-50% of a product’s cost is attributed to distribution costs which include freight and storage expenses, along with the profits earned by wholesalers and retailers.

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Term
Fall
Professor
N/A
Tags
Marketing, Price Elasticity, percentage change, specific marketing activities, social audience

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