Marketing Analytics Report: Strategies and Performance Measurement

This marketing analytics report focuses on the marketing plan for Thunderbolt Development LLC, exploring various aspects of monitoring, performance measurement, and strategic approaches. It covers essential elements like contingency planning, internal and external environment changes, competitor analysis, and industry trends. The report outlines strategies for measuring performance, including business budgeting, key performance indicators (KPIs), and Return on Marketing Investment (ROMI). It identifies crucial sources of information, the responsibilities of the research team, and the process of plan revision. Furthermore, the report details forecasting methodologies, feedback utilization, and references to support the analysis. The report provides a comprehensive overview of marketing analytics, offering insights and strategies for effective marketing plan execution and performance improvement for the company.

Running head: MARKETING ANALYTICS
Marketing Analytics
Name of Student
Name of University
Author Note

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MARKETING ANALYTICS
Contents
Ways of monitoring the marketing plan..........................................................................................2
Strategies for measuring performance.............................................................................................3
Sources of Information....................................................................................................................3
Responsibility of the research..........................................................................................................4
Revision of plan...............................................................................................................................4
Forecasting Methodology................................................................................................................4
Feedback Utilization........................................................................................................................4
References........................................................................................................................................5

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Ways of monitoring the marketing plan
The marketing plan is a document which is closely associated with the development of
the marketing activities and how any organization would be able to recognize their position and
operate within the business organizations as well (Westwood, 2016). The monitoring of the
marketing plan is essential in finding out how the marketing plan will become feasible and
accurate for any business organizations (Westwood, 2016). The monitoring of the marketing plan
is done with the help of the certain elements which includes the development proper monitoring
plan for the study. There are certain ways by which the marketing plan should be monitored and
they have been given below.
Contingency or Back up Plan- The contingency plan is defined as the back-up plan which
every organization need to be developed in case the master plan if fails to hit the market. There
are times when people do not develop the back up plans and this result in the failure of the
marketing plan to be taken place (Westwood, 2016). Thunder Bolt Development LLC does not
have the contingency plan in order to understand the market. So for monitoring contingency plan
needs to be developed.
Changes in the Internal and External Environment- The monitoring of the marketing plan
is required for measuring the changes in the internal as well the external environment. The
identification of the 4Ps of marketing should be monitored for the effective marketing plan to be
established in a comprehensive manner (Westwood, 2016).
Understanding of competitor strategies- The marketing manager should be able to
understand the competitor strategies for the monitoring of the marketing plan.

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Industry Trends and Analysis- It is useful that Thunder Bolt Development LLC should be able to
analyze the industry trends and the usage patterns of the consumers for the mobile apps
developed by the company (Westwood, 2016).
Strategies for measuring performance
There are certain strategies to be developed for the measurement of the performance of
the marketing plan for Thunderbolt Development LLC and they have been described below
Business Budgeting- This is a financial tool which is useful in measuring the
performance of a marketing plan. There should be reasonable assumptions to be done at the
initial stage of the marketing plan. The development of the marketing budget for this
organization is to be done. The budgeting is controlled by the CFO and the CEO of the company
(Olson et al., 2018). The budget preparation was done with the help of the budgeting software
program termed as Microsoft Money.
KPIs- The key performance indicators are the indicators which indicate that which are the
performance indicators are used for measuring the performance of the marketing plan for this
company under study (Olson et al., 2018).
ROMI- ROMI is also a financial tool which is termed as return on marketing investment
which specifies the overall sales and profitability of the company. This tool indicate that how
much return the company is having it in terms of the investment done on the marketing activities
for the fulfillment of the marketing objectives they have (Olson et al., 2018).

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Sources of Information
The sources of information should be from the consumer attitudes and perceptions
towards the usage of the mobile apps developed by this company. The next could be the
communication industry analysis and trends for the mobile app market. The other could be the
competitor analysis which include the strengths as well the weakness (Menon et al., 2015). The
next could be the identified and assessed risks to be taking place for this business to be started by
the company as well.
Responsibility of the research
The CFO, the marketing manager as well the middle level management which includes
the business analyst and the strategic analysts are responsible for performing this research study
in order to conduct a comprehensive marketing plan (Mayne, 2017).
Revision of plan
The master plan if gets failed then the contingency plan will be developed. The plan will
be revised with the help of the contingency plan to be developed for Thunderbolt Development
LLC.
Forecasting Methodology
There are different types of forecasting methodologies to be used for the future of the
marketing plan and the well designed forecasting strategy to be developed. It involves the
competitor benchmarking process, review of the customer adoption of new technologies,
budgeting as well the forecasting of digital marketing budgets (Armstrong et al., 2015).

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Feedback Utilization
When the feedback got by the researcher, then they will be analyzing it and comparing
with the previous feedbacks on the various aspects of the customer preferences. Yes the
researcher has a valid plan for measuring and benchmarking as well.

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References
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction.
PearsonEducation.
Mayne, J. W. (2017). Monitoring performance in the public sector: Future directions
frominternationalexperience.Routledge.
Menon, A., Bharadwaj, S. G., Adidam, P. T., & Edison, S. W. (2015). Effective Marketing
Strategy-Making: Antecedents and Consequences. In Proceedings of the 1997 Academy
of Marketing Science (AMS) Annual Conference (pp. 224-224). Springer, Cham.
Olson, E. M., Slater, S. F., Hult, G. T. M., & Olson, K. M. (2018). The application of human
resource management policies within the marketing organization: The impact on business
and marketing strategy implementation. Industrial Marketing Management, 69, 62-73.
Westwood, J. (2016). How to write a marketing plan. Kogan Page Publishers.