Criteria for Evaluating the Effectiveness of Marketing-Mix Programs in Services

- What are their strengths and weaknesses?

- How did they react?

A business typically faces competition from four different sources as follows:

- Competition between different brands of the same product: is the competition between similar products for the same customer group at similar prices.

- Competition between substitute products: Different types of products can provide similar benefits to customers.

Maybe you are interested!

• Evaluating the Effectiveness of Marketing Policies at Acb – Perspective from Customer Satisfaction
• Criteria for Evaluating the Efficiency of Deposit Mobilization Activities of Commercial Banks
• The effectiveness of marketing communication activities for the program "An gia lap nghiep" for individual customers at Vietnam Joint Stock Commercial Bank for Investment and Development - Thua Thien Hue branch - 13
• Evaluating the effectiveness of agricultural and forestry farming models on limestone terrain in Yen Minh district, Ha Giang province as a basis for planning the district's agricultural and forestry development - 10
• Criteria for Evaluating Bad Debt Management of Commercial Banks

- Competition for customers' wallets. Any business is competing with other businesses that are aiming to win customers' wallets, while their wallets are limited. With limited budgets, customers have many different needs and they will give priority to the most essential or urgent needs.

- Intra-industry competition: Enterprises consider competitors as all enterprises producing the same type of product or types of products in the same industry. This competition can exist between enterprises or different products of the same enterprise.

 Customer

Customers are the most important factor affecting the market development ability of enterprises. Customers are both the market and one of the most important forces that decisively influence the marketing activities of enterprises. Every change in customer needs and purchasing decisions forces enterprises to reconsider their customers' purchasing decisions and their marketing decisions.

 Suppliers

Suppliers provide inputs for the company to operate. If the supply of inputs is disrupted, it can affect the company's operations, especially in highly competitive conditions. In particular, the price and service of the company's input suppliers have a great impact on the company's operations. Therefore, the company must understand, care for and build sustainable relationships with suppliers.

 Marketing intermediaries

Marketing intermediaries are independent business organizations that support businesses in various stages of their value chain. These intermediaries are very important, especially in today's competitive international environment. Therefore, businesses must know how to choose suitable intermediaries and build long-term relationships with them. Marketing intermediaries support businesses in promoting, selling, and delivering their products to consumers.

Marketing intermediaries include:

- Wholesalers, retailers, exclusive distributors, shipping and logistics companies. They help businesses distribute goods and services to consumers quickly and effectively.

- Consulting companies, market research companies, advertising companies, newspapers, radio and television stations. They help businesses promote and advertise their products and reputation. Therefore, choosing the right partner is very important.

- Intermediary financial institutions such as Banks, Finance Companies, Insurance Companies, Auditing Companies. They will support the company financially, helping the business to prevent risks.

There may be large companies that organize their own distribution process, that is, implement direct distribution channels without intermediaries, or organize their own market research... However, competition forces businesses to think about specializing all their activities. Therefore, marketing intermediaries play a very important role, they help companies save costs, improve product and service quality, quickly deploy business activities and expand the market.

 Direct public

A direct public is any group or organization that has an interest in or influence on the operations of a business. The public will support or oppose the business's business decisions, that is, create favorable or difficult conditions for the business. Businesses need to classify the public and build appropriate relationships with each type. A business usually has 3 levels of public interest.

- Positive public: This is a group of public who have goodwill towards the business.

This group creates opportunities for businesses in carrying out marketing activities.

- Searching public: Is a group that is not interested in businesses or products.

This is the public group that businesses must find ways to attract and win their support.

- Unwanted public is a group that has bad intentions towards the business, this group of people often does not support, can boycott the products or activities of the business. This is the group of public that the business needs to be wary of their reactions.

The public directly affects a business's marketing activities.

usually have:

- Financial public such as: banks, financial investment companies, investment funds, brokerage companies of the Stock Exchange, shareholders, etc. This group has a direct influence on the ability to secure capital for the company to solve strategic tasks.

- Mass media such as: radio, television, newspapers

This group will provide information that is beneficial or detrimental to the company.

- State agencies that can influence marketing activities include: Department of Food Safety, Ministry of Natural Resources and Environment, Ministry of Culture and Information, Ministry of Justice, etc. Depending on their functions, each agency can influence different aspects of a business's marketing activities.

- Mass public: They can become customers of the business. If the public opinion of the business is bad, the business will certainly have difficulty in doing business. Therefore, the company must regularly monitor public opinion about the business and its products. The business also needs to participate in local sponsorship activities to create a good image of the business in the eyes of the public.

 Business reputation

In the market, the reputation of the company is one of the pioneering conditions that help the company survive. Companies always try to build a good reputation with customers and partners. With a good reputation about the company, about the company's products and services

then consumers will accept and contribute to creating a certain advantage for the company. Because the product or service is the object that is directly used and evaluated for quality, it is the decisive factor that makes consumers choose the product. Nowadays, consumers care about the quality of goods and services and an inevitable trend is that they will prefer "branded" products, that is, products from reputable and famous companies. High quality products and services at reasonable prices will be a huge competitive advantage. Therefore, with appropriate policies, the company will have a lot of potential to maintain and continue to dominate new markets.

1.1.4. Criteria for evaluating the effectiveness of marketing-mix programs in services

One of the most practical criteria to evaluate the effectiveness of Marketing-mix activities in services includes:

Revenue

Is the total amount of sales that a business receives in a certain period of time (year or quarter). Revenue is derived from the business's operations and contributes to increasing the business's equity.

Revenue analysis aims to evaluate the effectiveness of the business's marketing-mix activities: From there, identify key products, the ability to diversify and exploit product groups. At the same time, evaluate the ability to dominate the market and the direction of the business's operations.

Factors affecting revenue include product and service quality; product and service diversification; staff qualifications, and the company's brand. Therefore, this is the most obvious indicator of business success. When all business activities and campaigns are implemented effectively, the most noticeable thing is the increase in revenue and profit of the company.

Profit

This is the most obvious indicator of a business’s success. When all business activities and campaigns are going well, the most obvious thing is that the business’s target profit is achieved.

Customer satisfaction

One factor that can evaluate the effectiveness of a business's marketing-mix is ​​the level of

Customer satisfaction is the percentage of customers who are satisfied with the products and services of the business.

The survey is conducted with customers who have used the company's products and services. The survey questions are often designed in the form of many levels of satisfaction for customers to choose from, for example: Very satisfied, satisfied, normal, completely, not satisfied (5 levels). This indicator shows the ability of the company to satisfy customer needs.

The level of efficiency of human resource use

Human resources are also a very important factor in determining the success of business operations as well as the success of the enterprise. Instead of paying basic salaries, at an average level for many people but the tasks are only at the level of completion, the enterprise reduces the number of employees but pays higher salaries so that they have more motivation to break through, exceed the targets in work. In addition, the arrangement of human resources is also very important, reasonable arrangement will help the enterprise save a lot of costs, time and the business efficiency will be higher.

Brand awareness

Brand awareness is the first stage in the buying process and is an important criterion for measuring brand strength. A brand with high brand awareness is more famous and has a higher chance of being chosen by customers.

The first brand to be recognized is the brand that customers will think of first when asked about a certain type of product or service. For example, when thinking about television, customers will think of Samsung first, when thinking about mobile phone networks, they may think of Viettel, etc. As a result, Samsung, Viettel or brands with high first recognition are always the brands that people consider when choosing to buy products. This is an indicator that shows the level of customer awareness of the company's products and services and the promise to continue using those products and services of the business.

Market share and sales growth

After implementing advertising, promotion and other marketing-mix policies, how will the consumption rate of products and services change? What percentage of followers and the effectiveness of the marketing-mix policy?

1.2. PRACTICAL BASIS

1.2.1. Experience in building marketing-mix policy of ECO Foreign Language - Information Technology Center

ECO Foreign Language - Information Technology Center under the Department of Education and Training of Thua Thien Hue is one of the leading prestigious educational organizations in training and granting foreign language certificates A, B, C, and information technology certificates A, B of the Ministry of Education and Training; cooperating with universities recognized by the Ministry of Education to review and grant certificates A1, A2, B1, B2, C1, C2 in Hue. At the same time, the center also equips students with topics that society needs (such as topics on graphic applications Photoshop, CorelDraw, Web design, computer repair and maintenance, network administration, etc.).

 Strengths:

- Students only need to study short-term courses to be able to work immediately, with more

income to support tuition and living expenses.

- The center has constantly innovated, applying advanced teaching methods... with a rich curriculum, always updated to flexibly meet all needs for understanding foreign languages ​​and information technology.

- Reasonable course tuition fees suitable for each level and needs of students.

- With a team of experienced, ambitious and dedicated teachers, along with a team of young, enthusiastic and dynamic management staff, the Center has created a solid reputation and trust with students.

 Weaknesses:

- Technical facilities and equipment have not been improved or upgraded.

- Old curriculum and stereotypical teaching style do not stimulate creativity and innovation in students.

- There are not many group or collective activities for students to exchange and learn from each other during the learning process.

- Promotion policies have not been promoted yet, the Center has not yet

exploit all the communication channels that you have deployed.

1.2.2. Experience in building marketing-mix policy of International Language and Training Center

In the fiercely competitive market for centers to survive and develop the market, the key thing for businesses to survive and develop products and consumption markets is to do this. Marketing activities are indispensable, a tool to help businesses achieve their goals. Therefore, the application of the necessary issue that managers are interested in is the topic of systematizing the theoretical basis of Marketing-mix of manufacturing enterprises, stating the main content of Marketing-mix policies to expand the market of business products. For the International Training Foreign Language Center, understanding the benefits of Marketing, the company is increasingly interested in the products of the production center with good quality, meeting consumer needs, rich document prices, and expanding distribution channels.

 Strengths:

About the product: The course center products are of good quality, diverse and divided by difficulty into courses from easy to difficult. Helps students easily distinguish the level to choose the course.

About price: Tuition fee meets the ability of course users, price of documents

applied reasonably by the center

Regarding promotion: Realizing the importance of promotional activities, the center brings significant effectiveness to the center by choosing traditional channels of advertising, promotion, public relations, direct marketing,

About the process: Simple course registration procedures, concise arrangement process to avoid cumbersome enrollment.

Regarding facilities: invest in building infrastructure, fully improve equipment and installation to serve teaching.

 Weaknesses:

Marketing strategies are not really closely combined and do not have a long-term strategic orientation. Specifically:

Regarding scale: In general, the Marketing-mix field has limited capital resources, so the center has not focused much on investing in books to expand the market.

Regarding promotion : communication tools have not been fully exploited, communication strategies and internet promotion have not been utilized, so the company misses many opportunities to increase business activities.

Regarding human resources: need to be recruited more, trained with many reward and punishment regimes

to encourage employees to work dynamically and creatively.