These are the two questions that need to be answered:
(a) What metrics can you use to evaluate the effectiveness of your marketing strategy in launching the new product/service?
(b) Why these metrics and not others? Explain in detail.
So you will write a word document detailing these questions and1 PowerPoint slide with the necessary info (try to include some visuals as well please)
The audience/target of the presentation are potential investors that are considering investing in this product. Be objective, concise, and relevant in the PPT. You are trying to sell your product to a group of people. Demonstrate enthusiasm.
Task is not to compile, and present information easily found on the Internet about a global marketing strategy plan. Avoid crumbling names, dates, facts, and figures, that are not relevant to the domain of the project – global marketing strategy. The only reason to present factual or descriptive information would be if they are truly relevant to the discussion.
Some ideas I put together for question A:
• Survey Monkey (to determine consumer awareness, efficiency of product, thoughts)
• Social media
• Number of times hashtags are used, frequency, and demographics of the people using hashtags and reposts
• ‘Likes’ on Facebook and tweets or retweets on Twitter
• Leverage influencers to boost company visibility on social media
• People on ground to observe how many times the lights are used and to listen to word of mouth
o Monitor timeframes they are used the most and areas they are most effective in
Some ideas I put together for question B:
• Product is new so the social media campaign will be useful to reach large audiences
• Word of Mouth for our observers will also provide us information because our product is not digital
• The survey provides actual hard data about the product
Sources to use:
https://www.cleverism.com/how-to-measure-effectiveness-of-marketing-campaigns/