An excellent toolkit to start with! This was a solid book that explained the ideas and processes behind starting a successful business.
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Though many of the principles still apply to any size business, parts of the book are not worth much if you're not planning on a multi-million dollar business. Very good and interesting. Awsome book to read if you are wanting to start your own business. See all 14 reviews. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers.
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How to Sell More: Tools and Techniques from Harvard Business Review by Harvard Business Review
Shopbop Designer Fashion Brands. Can you describe the marketing analysis toolkits? What led you to develop the toolkits? The field of marketing has undergone immense changes over the past decade, and those changes are driving an increasing need for data analysis. Marketing today combines both art and science: Managers must combine creative thinking with rigorous analysis when making decisions.
Increasing financial pressures demand that managers deliver ROI from their marketing investments; therefore, quantifying the effects of marketing decisions is imperative. At the same time, customer relationship management CRM software and emerging Web 2. The marketing analysis toolkits are a suite of analytical tools that managers can use to inform decision-making in marketing.
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Each toolkit includes a technical note that outlines the analysis technique, provides examples of how it is used in marketing, and shows mathematical formulas used in the technique. Also included in each toolkit is a spreadsheet supplement that contains sample problems; interactive graphs and tables that illuminate the concept visually; and a prebuilt Excel model that guides users in conducting quantitative analysis.
The toolkits are designed to be self-study tools that students can complete on their own outside the classroom or that managers can use on the job. The marketing analysis toolkits were designed to provide a quantitative foundation for analyzing marketing decisions and an analytical structure and process for completing a marketing plan project.
They can be used in undergraduate and MBA courses to enhance students' comprehension and usage of quantitative concepts in marketing. Professors have used the toolkits to introduce analytical concepts that appear in HBS cases and to provide supplemental support for students as they run quantitative analyses to support their case preparation. Inbound Marketing and Web 2. Professors have also used the toolkits to support marketing plan projects, which are often a key deliverable in the core principles of marketing course at the undergraduate level and the core marketing management course at the MBA level.
The toolkits provide analytical structure for completing key sections of a marketing plan, including situation analysis, segmentation analysis, pricing strategy, and financial projections. More importantly, all are designed to be toolkits that managers can keep in their virtual briefcase and use for real-world decision-making.
All are easy to download into Microsoft Excel for use on the job. Let's focus on the concept of "customer lifetime value. Who is the ideal customer? Customers are increasingly being viewed as assets that bring value to the firm. Customer lifetime value is a metric that allows managers to calculate how much a customer or customer segment is worth to the firm over his purchasing life.
The CLV formula incorporates metrics that capture the outputs of three key customer strategies that firms employ: An ideal customer, from a CLV perspective, is one who is inexpensive to acquire, who delivers high annual profits from his purchases each year, and who remains a customer for a long period of time. Calculating CLV allows managers to identify opportunities for growing the value of their customer portfolio. CLV can guide segmentation and targeting analysis to decide which customer segments are the most valuable for the firm to target. It can also inform customer relationship management CRM planning by helping to segment the customer base by their profitability to the firm, so that managers can increase or decrease marketing expenditures to a particular segment.
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Now let's discuss the challenge of product pricing. How should businesses go about conducting a profitability analysis? Choosing a price for your product is one of the most fundamental and important decisions managers face, and it is often one of the hardest. Pricing decisions require managers to understand how sensitive consumer demand is to changes in price.
This requires constructing and interpreting a demand curve to understand how responsive or elastic customers' demand for a product is to a change in price. The pricing and profitability toolkit guides managers in how to construct a demand curve, how to calculate the price elasticity of demand, and how to use these metrics to inform the process of choosing a price.
Once a price point is chosen, managers need to understand the impact of that price on their financial projections for the firm. Profitability analysis begins with calculating the revenue the firm will generate from sales of its products. Then, an analysis of variable and fixed costs is undertaken.