27 May paper rewriting work

Researching Marketing Questions

MKT/571

2017

Researching Marketing Questions

Part 1: Marketing Report Memorandum

MEMORANDUM

To: John Mullin (Senior Vice President (SVP) of Marketing)

From: (Marketing Analyst)

Date: 2017

Re: Researching Marketing Questions

This memo summarizes the data provided in the business growth overview datasheets comparing 2016 vs. 2015 revenue data. Data information breakdown covers the four primary areas of revenue increase and decreases, revenue trends, revenue growth insights, and marketing goals and strategies analysis.

Revenue Increase and Decrease

There were revenue increases in all categories and a few decreases to mention also about the business growth. Within the datasheet global breakout was an increase across the board. Domestic produce significantly higher revenue over International, but International is mentionable for increasing strongly with over 10% within semiannual, quarterly and monthly categories. Within the customer rank category, there is a total increase, except for the category of non-coded. Although acquiring arose over expanding and retaining as far as daily revenue, total revenue ranking is expanding, retaining and then acquiring.

Customer class has year to date (YTD) increases but some decreases in the quarter to date and month to date (MTD). Commercial, Industrial Labs, Resell – Industrial Hygiene, and education show decreases within the quarter to date and MTD sales and gross profit (GP) but do come out with revenue increases within YTD. ABC Corporation is the revenue leader within the top customers. Delta Appliance is the third-ranking top customer; although, they have had a slip over the last year with the largest of 164% decrease of monthly GP, 21% quarterly sales decrease, and almost $2,000 YTD daily revenue loss (UOP, 2017).

Revenue Trends

Revenue within the YTD is an increase except for Delta Appliance, so it is perceived that increase is a trend and a good trend at that. However, Delta Appliance shows a revenue decrease not just in YTD but also quarter to date and MTD indicating a continual downward decline in revenue growth, profit, and sales which are a definite revenue loss trend. There is also a sales and GP percentage decrease trend within MTD for various top customers. Good news is upward revenue increase trends are evident within global breakout and customer rank with some MTD slippage from customer class, but not a noteworthy widespread trend.

Businesses must emplace a focus on trends, root-causes, and systemic issues to ensure continued growth in revenue. “It should set up a marketing intelligence system to track trends and important developments and any related opportunities and threats” (Kotler, P.T. & Keller, K.L., 2016, pg. 49).

Revenue Growth Insights

Moving forward with revenue growth and reversing the declining areas with without a doubt need established objectives. Creating realistic objectives will enable the business to reach desired outcomes that are attainable. Objectives must be strategically aligned with the business marketing plan which is a part of the company strategic plan. Conducting reviews of current objectives and plans with authorized outside agency eyes per say will help foster a fair and impartial look at the right objectives needed for the desired outcomes. Need to reach back and revisit the research arena and readdress demographics, psychographics, technology, communication, value, etc.

Marketing Goals and Strategies Analysis

It is believed that performing a SWOTT (strengths, weaknesses, opportunities, threats, and trends) analysis will aid in the identification of areas needed to sustain or change. Developing a balanced scorecard will assist in accurately assessing internal finances and measuring customer performance against an established standard. Conducting benchmarking will assist in determining where the business stands against other similar companies within the existing business market. Completing a marketing plan review since the plan is a living document, will provide a chance to enhance existing standard operating procedures for programs, processes, and systems in place to ensure maximum effectiveness and efficiency. Finally reviewing objectives to validate that they are sensible, achievable and in line with strategic plan.

This summarization of the analyzed business growth overview using datasheets identifies where customer companies rank as far as above or below par. Trends are identified for business types and categories. Growth insights support need to sustain or strategize the marketing plan to attain revenue increases. Marketing goals and strategies analysis provide in-depth analysis with the reasoning to readdress marketing objectives and employment strategies.

Part 2: Marketing Plan Topic Summary

The global company I have chosen for my marketing plan is Nike, and the product I have chosen is sportswear. Nike has three headquarters located in the United States (US), Netherlands and China but the US-based headquarters located in Beaverton, Oregon is considered Nike’s world headquarters. Nike’s president, chief executive officer (CEO) and chairman director is Mark G. Parker. Nike has only one CEO but has various other presidents and senior executives for many departments and geographical locations within the company.

Nike employs approximately 74,400 personnel worldwide. Nike’s revenue for 2017 was $34,350 million. Nike has product lines for a variety of sports gear and an assortment of athletic training apparel. There are approximately 938 Nike brand factory and retail stores domestic and abroad. Nike has six primary distribution centers located in the US and a dispersed amount of retail distribution locations worldwide. Nike also has an advanced online ordering system with distribution to over 45 countries. Nike’s main website is https://www.nike.com, and from this website, one can link to anything needed within the company using public access (Nike Form 10K. (2017).

References

About Nike. (2017). About Nike. Retrieved from https://about.nike.com/

Kotler, P. T., & Keller, K. L. (2016). Marketing management (15th ed.). Upper Saddle River, NJ: Pearson/Prentice Hall.

Nike Form 10K. (2017). Nike annual reports: Current and archived. Retrieved from http://investors.nike.com/investors/news-events-and-reports/?toggle=reports

UOP. (2017). Week one: Business growth overview. Retrieved from University of Phoenix, MKT571 website.