Marketing Resource Allocation, Portuguese Version market. Recommendation on Promotion Budget Allocation Marketin its marketing purpose, the major role of offline and online advertising was to build brand awareness and improve consideration among potential bank customers. Inthe brand awareness and consideration dropped significantly because of they changed their brand name to BBVA Compass. Taking a closer look at the paid search campaign, there are definitely room for budget reallocation. Everything you need to know about selling on Stuvia. Newspaper, magazine, outdoor, TV and radio advertising are effective enablers to drive awareness among mass public, especially after BBVA Compass adopted a new name.
|Published (Last):||9 April 2004|
|PDF File Size:||13.46 Mb|
|ePub File Size:||7.80 Mb|
|Price:||Free* [*Free Regsitration Required]|
Kotler explains - Marketing is a process by which organizations can create value for its potential and current customers and build strong customer relationships in order to capture value in return.
In mature markets the profitability is often stable but the market potential is less as most of the players have already taken market share based on the segment they are serving. New players have to go for market share strategies in marketing. Technological competence of the existing players and culture of innovation and development in the industry. Untapped market sizes and barriers to both enter the market and serving the customers. Often companies can easily see the unfulfilled needs in the markets but they are difficult to serve as there are costly barriers.
Define the core need that your product is serving and list out all the direct and indirect competitors in the market place. This will help not only in positioning of the product but also in defining or creating a segment better. Uncovering the current and untapped market sizes and barriers to serving the larger market. Analyze the areas that you need to sort out while launching the products to wider market and what are the challenges the firm will face in market place.
Estimate the current stage in product life cycle and its implications for marketing decisions for the product. Segment Attractiveness Analysis — Our analysis will work out which are the most attractive segments and which are the one the firm should go ahead and target.
We point out in great detail which segments will be most lucrative for the company to enter. Understanding the different needs and relative value of your offering by segment. Developing segment priorities and positioning the product based on the product need fit developed by the firm.
This will not only help in assessing the strengths and weaknesses of the competitors but also help in defining and positioning of the product. Developing a positioning and launching strategy. It will require not only distribution channel analysis but also promotion mix for the product. By creating superior customer value, the organization can create highly satisfied customers who stay loyal and buy more.
This, in turn, means greater long-run returns for the firm. The crucial role of customer perceived value in acquiring and retaining profitable customers. Product differentiation is often based on building on a value niche that a firm believes that is very important to the customer. This niche contributes to perceived value. Graphically displaying value differences for deeper understanding and better internal communication. This helps is building a narrative that a customer can identify with. The better the insight more are the chances of connecting with the potential customers.
Identifying and selecting actionable value creation options. This can help in increasing the customer lifetime value. Customer lifetime value is the value of the entire stream of purchases that the customer would make over a lifetime of patronage. NOTE: Every marketing case study solution varies based on the details and data provided in the case. We write unique marketing strategy case solution for each HBR case study with no plagiarism.
The specific case dictate the exact format for the case study analysis.
BBVCompass: Marketing Resource Allocation Case Solution & Analysis
LinkedIn BBVA Compass: Marketing Resource Allocation Case Solution Based on the previous effects and results cause by the offline and online advertising, it would be feasible to propose that the company should allocate more resources in offline advertising and cut down on resource allocation in online advertising as it would cut down costs and expenses for the company and increase their growth trends towards their organizational objectives. Do you agree with this decision? The changed name of the company was not recognizable to the past extent, for increasing the brand awareness of the company, the decision was taken for signing a sponsoring agreement of a multiyear NBA and ESPN. This decision was of sheer credibility and authenticity as these signing would definitely and directly affect the level of brand awareness for the company. BBVA advertisements being advertised or aired between the prime time slots all over the US would significantly affect the brand awareness levels for the bank. Marketing activities of such nature are credible and are fruitful for the organization in the long run. Question 4 What are the various steps in the online acquisition process and how can the bank improve this process?
BBVCompass: Marketing Resource Allocation Harvard Case Solution & Analysis
BBVA Compass: Marketing Resource Allocation (TN)