Seven Metrics Case
In order to remain competitive and profitable, we must make the necessary changes to our strategic direction. To ensure profitable short and long term growth of our company, we need to first analyze where our brand is today before we can plan for the future. By implementing these seven metrics into our market analysis and strategic direction we will better be able to predict future outcomes and create a higher value for CraveTV.
First, we must identify how our brand is doing in contrast to our competitors. To identify our competitiveness the best metric to use would be market share. This will enable us to specifically evaluate both primary and selective demand in the current video streaming market. Although this metric may not provide sufficient information alone, when combined with other metrics it can supply us with the necessary knowledge to analyze how our efforts in the service expansion are working. Furthermore, it is important for us to know the market share of our company and our competitors compared to the overall market size. By analyzing this comparison we become more effective in forecasting strategic and tactical decisions. These decisions will enable us to acquire more customers by either obtaining shares …show more content…
Using the return on marketing investment (ROMI) metric, we are able to see the profit we generated from the marketing strategy currently implemented to determine if it is viable and feasible. ROMI allows us to measure the rate at which spending on marketing contributes to profits. After calculating the ROMI, our marketing efforts will be clearly illustrated a in the results of a return or a loss. This will allow us to effectively make tactical decisions in our strategy to ensure our growth in the
First, we must identify how our brand is doing in contrast to our competitors. To identify our competitiveness the best metric to use would be market share. This will enable us to specifically evaluate both primary and selective demand in the current video streaming market. Although this metric may not provide sufficient information alone, when combined with other metrics it can supply us with the necessary knowledge to analyze how our efforts in the service expansion are working. Furthermore, it is important for us to know the market share of our company and our competitors compared to the overall market size. By analyzing this comparison we become more effective in forecasting strategic and tactical decisions. These decisions will enable us to acquire more customers by either obtaining shares …show more content…
Using the return on marketing investment (ROMI) metric, we are able to see the profit we generated from the marketing strategy currently implemented to determine if it is viable and feasible. ROMI allows us to measure the rate at which spending on marketing contributes to profits. After calculating the ROMI, our marketing efforts will be clearly illustrated a in the results of a return or a loss. This will allow us to effectively make tactical decisions in our strategy to ensure our growth in the