Essay Paper on Marketing Plan
The main quantifiable elements that can be used to evaluate, monitor and control the effectiveness of a marketing plan for a new hybrid car are as follows: sales volume, percentage penetration of distribution outlets, number of hits of a website, market share and inventory left.
Sales volume is the main indicator of the effectiveness of marketing plan.
If an advertisement campaign gave a 100% result and the sales grew, it’s possible to draw a conclusion that sales increased owing to effectiveness of marketing plan. For example, if the introduction of a new Hybrid car was successful and the sales increased, this means that the marketing plan is effective.
Percentage penetration of distribution outlets is a quantifiable element that is also important in evaluation of effectiveness of marketing plan. The higher is the percentage of distribution outlets, the more effective is the marketing plan for a new hybrid car.
Number of hits of a website is a crucial factor in any case. This quantifiable element shows how many times a new product (in our case a new hybrid car) was searched. The larger is the number of searcher – the better for the product. Number of hits of a website indicates the level of interest of potential customers.
Market share indicates the proportion of the total market which is occupied by the new hybrid car. A market research should be conducted to estimate the market share. In this case, the larger is the proportion of occupied market the higher is the effectiveness of the marketing plan.
Inventory left is a quantifiable element that shows the how many cars are left after a certain period of sales. The most important issues here are certainly sales volume and market share, but other elements also contribute a lot to identification of success of marketing plan.
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