MKT/574 Strategic Marketing Plan: Marketing Data Analysis-Homework Solution
Part B: Marketing Data Analysis
(Due in Wk 4)
Internal Data
Evaluate internal sources of information available to you inside the organization and what information you will receive from each source. Identify 3-6 sources of internal data. Insert or remove rows as needed.
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| Source | What it Measures | Data | Potential Usage |
| Advertisement expenditure | Amount spent on advertisement efforts. | Monthly advert expenditures | Useful in evaluating the percentage of money spent on advertisement |
| Accounting information | Profit or loss incurred by the business | Monthly losses and profits made by the company. It can be categorized per product | Helps a business to determine if it is making profit or operating at a loss |
| Transportation costs | The costs incurred by a business in transporting its products or staff | Monthly cost of transporting products | Helpful in assessing the amount spent by the company on transportation |
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Secondary Data
Evaluate secondary data sources and the specific information you need from each source. Insert or remove rows as needed.
| Source | What it Measures | Data | Potential Usage |
| Published surveys | Reports on the performance of businesses | Major sales by a business | Useful when conducting market research |
| Newspapers | Measures major products sold in the market as well as markets with prospective consumers | Sales of competing-Marketing Data Analysis | Useful in analyzing of the market |
| International agencies | Foreign market forecasts for example exports | Products exported or imported by countries | Useful in analyzing markets with best opportunities |
Primary Data
Evaluate primary data needs to create and evaluate the marketing plan. Insert or remove rows as needed.
| Source | What it Measures | Data
|
Potential Usage |
| Surveys | Customer satisfaction. | The number of existing customers who are satisfied with the company’s services or products. | Useful in enabling a business to identify unhappy customers, avoid losing customers as well as negative testimonials by customers in order to increase revenue. |
| Observations | Ease of website navigation. | The website conversion rate. Marketing Data Analysis | Identify any website navigation problems that may prevent visitors from successfully completing the customer journey. |
| Interviews | Consumer perception, | The number of the company’s products being purchased by consumers | Identify what products consumers are purchasing and why. Establish which products need improvement. |
Customer Relationship Management
Establish customer touchpoints and develop appropriate CRM events for customer acquisition, retention, and profitability. Insert or remove rows as needed.
| CRM Touchpoint | Purpose & CRM Objective | Data | Potential Data Usage |
| Engagement Data | Measures how customers (existing and potential) engage with a brand across the various touchpoints. | The rate of customer interaction with a company’s e-commerce website. | It is usually applied at a macro level to assess click-through rates. Marketing Data Analysis |
| Behavioral Data | Focuses on the way customers interact with a company’s services or products directly. | Purchase history, abandoning shopping carts, and renewing subscriptions | Looking at this data helps to figure out who is following through with making a purchase or signing up for a subscription service and who is not. Marketing Data Analysis |
| Attitudinal Data | Helps in determining the performance of a brands services and products relative to consumer needs, customer satisfaction and overall customer experience. | Customer opinions regarding their feelings towards a brand and its services and products. | Helps the company to work on its key priorities by which they can position themselves better to the consumer they have targeted. |
