Actual results exceed goals In this case marketing must act quickly to exploit

Actual results exceed goals in this case marketing

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Actual results exceed goals . In this case, marketing must act quickly to exploit unforeseen opportunities. In 2012, Starbucks added a “blonde roast” and more food items for U.S. customers. It also opened hundreds of new stores for Asian customers. The result: Starbucks' first quarter 2013 profits grew by 13 percent. Having exceeded its goals, Starbucks recently announced aggressive plans to add thousands of additional stores worldwide, make 60 percent of new U.S. stores drive-thrus, and develop new coffee varieties on its just-purchased 600-acre Costa Rican research farm. 35 Actual results fall short of goals . This requires a corrective action. Beaten badly for years in the U.S. toothpaste market by P&G's Crest, Colgate used new technology to introduce its Total toothpaste, the first “oral pharmaceutical” approved by the U.S. Food and Drug Administration. Total not only cleans teeth, but its germ-fighting technology helps heal gingivitis, a bleeding-gum disease. Colgate marketed this feature aggressively, enabling Total to become No. 1 in the U.S. toothpaste market. 36 Marketing ROI, Metrics, and Dashboards The concept has been extended to measuring the effectiveness of marketing expenditures with marketing ROI , the application of modern measurement technologies to understand, quantify, and optimize marketing spending. The strategic marketing process tries to improve marketing ROI through the effective use of marketing metrics and dashboards: Marketing metrics . Depending on the specific goal or objective sought, one or a few key marketing metrics are chosen, such as market share, cost per sales lead, cost per click, sales per square foot, and so on. Marketing dashboards . Ideally, the marketing metrics are displayed—often daily or weekly—on the marketing dashboard on the manager's computer. With today's syndicated scanner data, website hits, and TV viewership tracking, the typical manager faces information overload. So an effective marketing dashboard highlights actual results that vary significantly from plans. This alerts the manager to potential problems.
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