Marketing Analysis
KMG INSIGHTS uses three components to comprise a marketing analysis. The first component is to define the marketing opportunity. We must determine where the business, i.e. revenue, is coming from. Furthermore, where does the potential to increase the business lie? Where are new and more significant streams of revenue? Are their areas of greater importance to pursue? If so, what opportunities can be derived from the marketing efforts to achieve these goals? What is the most effective way to market the product? Does it lack brand recognition? Do we need to stimulate trial? Build brand awareness? Create new news? This process gives the KMG INSIGHTS marketing department a firm grasp on the initial marketing issues.
The second component is a competitive analysis. This outlines the competitive outlook for the client's brand. Some questions answered throughout the analysis are: Who are the competitors? How much marketing are they doing? Where is the competitive media running? When during the year are they advertising? What media patterns are they following? Are they pulsing their media activity? Are they consistent with the allocation of their marketing dollars? Once competitive media usage is defined, KMG INSIGHTS creates measures to counter their efforts. For example, is it more effective and efficient to utilize different mediums than the competitors to create a presence where they have not? Do we recommend advertising during periods in which the competition is not advertising? How much overlap is sufficient? The final objective of the competitive analysis is to define a competitive solution that best markets the client's brand and achieves the marketing requirements.
The third component of the Marketing Analysis is market research. This factor completes the data necessary to accurately depict the client's marketing analysis. Sales data is a key part of the research. Sales numbers allow us to locate areas of high and low development within the brand and define peak and valley times throughout the sales cycle. KMG INSIGHTS then derives the reasoning behind the sales trends, and forecasts a marketing solution to heighten the peaks and narrow the valleys. Market research also includes evaluation of geographical factors and local market factors involved in the business of the brand, as well as, advertising clutter and media usage in the market. The data received at the conclusion of the Standard Package will present the client with a very precise outlook on the current state of their business from the marketing standpoint.
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