Marketing and Financial Analysis Research Assignment - 3575 Words

Marketing and Financial Analysis Research Assignment (Term Paper Sample) Content: Marketing and Financial AnalysisStudent nameCourse code and nameProfessorUniversityStateDate DueTABLE OF CONTENTS 1 Introduction..42.0 Discussion..42.1 Marketing performance...42.1.1 Comparing the marketing efforts against the sales52.1.2 Transaction value and quantity52.1.3 Customer acquisition cost.62.1.4 Market share..72.2 Recommendations.82.2.1 Conducting research on service characteristics..82.2.2 Market segmentation.92.2.3 Enhancing physical environment.92.2.4 Building strong customer relationships102.2.5 Improving service quality and enhancing customer satisfaction102.3 Financial performance analysis102.3.1Total Sales Revenue.112.3.2 Gross profit..112.3.3 Net Income122.3.4 Current Assets..122.3.5 Debt to equity122.4 Recommendations132.4.1 Strong internal control system132.4.2 Establishing budgetary controls.132.4.3 Computerization of process and systems.142.4.4 Use new marketing strategies143.0 Conclusion.144.0 List of References.165.0 Appendix18Marketing and F inancial Performance Analysis1.0 IntroductionIn the recent past, simulation games have gained popularity with professionals and learning institutions. As such, there has been a widespread development of simulation games in a variety of subjects. One of the fields where the use of simulation games is quite popular is the retail marketing. According to Faria (2008) simulation game model are widely applied both in the learning and professional setup. As such, retail marketing simulation game is an important tool in marketing as it offers professionals and students a risk-free platform to test their strategies and make decisions. This paper will analyze my team's marketing and financial performance based on the retail marketing simulation game and provide recommendations on improving the marketing and financial performance.2.0 DiscussionAccording to Lger (2013) in the modern complex and risky markets where the strategies applied determine the success or failure of the business, the use of simulation games has become a part of the decision making. Therefore, understanding the results of the retail marketing simulation analysis is crucial in identifying and choosing appropriate strategies to be implemented to improve performance. The failure to critically analyze the simulation results could lead to the adoption of wrong strategies and failure of the business.2.1 Marketing performanceMarketing performance analysis can be conducted through the use of marketing performance management (MPM) tool. MPM refers to an efficient management of the marketing processes and resources with the aim of achieving efficiency and quantifiable gains in on ROI, while ensuring quality customer experience. Marketing performance management is the cornerstone of the marketing operations, and it relies on focused outcomes, a set of measurable standards of performance and accountability (Martilla James 2011). Further more Martilla and James (2011) argue that marketing performance management plays crucial roles in ensuring marketing objectives are met. The marketing performance concept can be applied in retail marketing to ascertain the ability of the retail stores to achieve their marketing objective. Retail marketing refers to the marketing process relied upon by the retailers to create awareness, interest and drive their products and services sales. According to Sullian and Adcock (2002) retail marketing plays an important role in increasing a business sales and increasing the rate of customer conversation. They further argue that the objectives of retail marketing are to increase revenue, influence sales, reduce customer acquisition cost and increase the organization market share.As such, marketing performance in the retail marketing can be analyzed using the following techniques;2.1.1 Comparing the marketing efforts against the salesMarketing efforts ought to have a direct impact on the sales increase if the strategies used are appropriate. As such, when analyzin g the marketing performance the first indicator to consider is the marketing activities and campaigns influence on the sales. Therefore, marketing attribution is essential in helping to track the marketing activities or campaigns which led customer behavior to purchase the products. The failure of the marketing effort to result in increased sales volume would be an indication that the marketing strategies adopted were a failure and need to be revised (Armstrong and Brennan p.64 2010).Based on the results of the retail marketing simulation game it is clear the marketing efforts carried out by Store A, B and C during the year had a negative impact on the sales volume. Additionally, it is not possible to attribute the sales increase to the promotional activities conducted by the stores. As such, the promotional activities carried out by all the three stores could be argued to have been ineffective as they failed to achieve the desired results.2.1.2 Transaction value and quantityAccordi ng to Cravens and Piercy (p.32 2006), the objective of the marketing strategy is not only to attract customers but also to ensure that buyers spend more money and purchase more items. As such, when analyzing the marketing performance of the retail marketing, it is essential to track the quantity of purchased items and the average value per transaction. Therefore, it is important to keep an eye on the average number of products purchased and the number of customers visiting the stores influenced by marketing activities to ascertain their impact.The results of the retail marketing simulation game indicate that the number of the average customer is Store A has only exceeded the first-month average customers on two occasion...