Competency 2 Marketing

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School

University of Phoenix *

*We aren’t endorsed by this school

Course

MGT576

Subject

Marketing

Date

Feb 20, 2024

Type

docx

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Uploaded by EarlWorld13199

Part B: Marketing Data Analysis 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. Source What it Measures Data Potential Usage Product Sales data pulled from our internal billing system. Monthly sales by these specific products: Nutrafol, skin medica line, derma rollers and sun screen Average sales that month in US dollars for each of the 4 products we sell. Data can be segmented by business and consumer markets. Data can be grouped by type; hair center vs dermatology side Can be used for trend analysis, projections, and to measure effectiveness of promotions. Helps with inventory control and tells what products are more popular and what we need to market more. Data reports showing the number of visitors that came to our website and clicked in it from google Ads and our Social Media accounts. Our online presence, how much traction our ads are getting by measuring the clicks and where they are generated from Average number of actual clicks into the website and how number of clicks generated from each platform, did they search with key words on google, click through the Facebook AD or click from an advertising sent to their email Can be used for trend analysis, projections, and to measure effectiveness of where we are marketing online. Are we hitting the correct platforms, are we paying for platforms that aren’t getting traction. Do we need to change the marketing strategy EMR reports that show daily client volume in the clinic for each type of procedure Monthly clients by these specific visit types: general dermatology; MOHs surgery, Hair Transplants and cosmetics Average client visits in that month in units for each of the 4 visit types we offer. Data can be segmented by demographic markets. Data can be grouped by type; hair center vs dermatology side vs cosmetic side Can be used for trend analysis, projections, and to measure effectiveness of our marketing strategies for each type of visit. Can show trends in type of services that are more needed or wanted by demographic

Source What it Measures Data Potential Usage market. Track the progress of client retention. EMR reports that show the number of nursing calls received daily and the true data of how long it took us to address the call. Daily interactions with the clients calling in and how long we are taking to address their need. Average amount of calls that come in per month and how long it took us to complete the call from beginning to end on each call. Can be used to track the quality of care we are giving and help us understand client satisfaction. 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 Local hair and cosmetic product analytics Dollar value of sales by quarter by major product categories; hair supplements and skin care products Total sales of major players: Top 5 hair loss supplement retailers Market Share Analysis Seasonal patterns Census data The number of people in homes (individual addresses) and group living situations, including how many people live or stay in each home, and the sex, age and race of each person The census data for the zip code the clinic is located in. It shows every households demographic makeup for the area. Market Geographic Analysis Determines if the location is appropriate for type of services offered City, county, state, and federal websites; A variety of items such as population information by state CDC offers population information by state Market Geographic Analysis Determines if the location is appropriate for type of services offered Local hospital websites and their Community Needs Assessment reports Specific industry related needs of the local population What exact diagnosis needs are most prevalent in an area Ensure that we offer medical services that fit the current population of the area Watch for trends in

Source What it Measures Data Potential Usage diagnosis changes Understand the health needs of the area better Local hospital association websites (particularly their advocacy sections, which may outline health-related priorities in the region) Specific industry related needs of the local population What exact diagnosis needs are most prevalent in an area Watch for trends in diagnosis changes Understand the health needs of the area better Give insight into better client education 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 Focus group Product usage, motives, identify group level satisfaction, decision process, etc. Qualitative Identify different reactions of market segments to product. Identify marketing opportunities, product/service flaws and opportunities Surveys Valuable feedback from patients about the quality of care they are receiving, how their interactions with staff and clinicians have been handled, what services they feel are lacking or not meeting their needs, and their overall experience with the facility. Qualitative data gauging people's opinion Improve multiple aspects of the organization Analysis of any areas that are not doing well Gives a look into quality from a client’s perspective to improve processes Observation The soft skills of staff Qualitative Process

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Source What it Measures Data Potential Usage interactions with clients; the clients interactions with the providers improvements Staff Coaching Data Analysis Sales of product data and number of clients Both Qualitative and Quantative; Gives quality measure and measure of amount of clients/products Growth opportunities Experiments systematic effort based on evidence for the solution of any health problems using data Qualitative Process improvements Growth opportunity Identify flaws in the processes 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 Customer profile information on website Starts the account for visitors: name, geography, email address (Customer acquisition) Presale: geographic location; customer id, source of reference Email address Post sales: address, product purchased, quantity, price. Track new and returning customer counts, total period purchases by customer ID, geographic sales data. Can be used for loyalty rewards, retention, and targeted marketing. Customer Surveys via emails To obtain the clients feedback regarding their most current experience with us. Post Visit: their experience Different perspectives of how the clinic is perceived Track and retain clients. Growth Learn more about our target markets

CRM Touchpoint Purpose & CRM Objective Data Potential Data Usage interests Customer Reviews To obtain the clients feedback regarding their most current experience with us. And showcase the good reviews for potential clients. Specific rated scores from actual clients. Specific examples of both what is being done correctly but what needs to be fixed Track and retain clients. Growth Customer Loyalty Program To retain current clients and show appreciation to drive reputation within the community. Number of loyal clients Track and retain clients. Growth Boost profits Brochures – Digital Increasing leads as handouts at tradeshows and events or through direct mail campaigns. Brochures can also support our brand identity by offering the target audience informative and credible content about who we are Digital brochures often have analytics tools, allowing you to track reader engagement and gain helpful insights into how your content is performing used to introduce a customer to your product, service, or even your company as a whole – tracking engagement shows trends in the marketed population

Competency 2 Marketing

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