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Managing
the Product Marketing Mix
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The most delicate balancing
act a brand manager must perform is to devise and then continuously
fine-tune their overall marketing mix. Changes in consumer behaviour
and attitudes, movements in the importance of distribution channels,
the impact of technology on product performance or brand extendibility
- they all combine to make the balancing act a challenge. Compound
these dynamics with the plethora of marketing and sales tactics
on offer daily via price cuts, promotions and so forth, and
even the most skilled brand manager has their work cut out for
them.
When making critical decisions on all of these marketing issues,
one is usually faced with limited resources in terms of time,
materials and budget. At the same time, consumer preferences
and how you should respond to them can often conflict with your
company imperatives, making these decisions even more challenging.
At ACNielsen, our mission is to offer our clients a clearer
focus on the complex, interconnecting issues described above,
and do it in a timely and actionable manner. Our wide range
of retail and consumer research services, coupled with a close
understanding of our customers’ priorities, enable our
client service teams to meet the challenge.
The key to enabling brand managers to make the best decisions
within an acceptable time frame revolves around providing targeted
information and recommendations based on solid analysis and
data points. This can be provided through the combination of
various complementary ACNielsen research techniques and services.
For example, we may help a client estimate the likely consumer
response to price changes provoked by a major competitive price
reduction with a Brand Price Trace Off or Choice Modelling review.
And since we all know that what people say they'll do does not
always bear out in reality, we are also able to undertake validation
of our recommendations using our Advisor | Explorer modelling
tools to see how consumers have made choices under similar pricing
scenarios. This multi-dimensional approach offers crucial insight
to help minimise decision-making risks.
In this issue of Asia Pacific Insights, we illustrate the capabilities
of several tools that focus on different aspects in the marketing
mix. Used alone or in combination, they offer the marketer more
power to better leverage their brands and their budgets.
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