Question
please help me answer this market share question... review the Bank and Hotel Perceptions figure. We see that the bank and hotel had business issues
please help me answer this market share question...
review the Bank and Hotel Perceptions figure. We see that the bank and hotel had business issues that advertising could address, namely awareness and consumer attitudes, respectively. If we make assumptions and simple calculations that a brand's market share (%) is a function of those indicators (awareness, attitudes, trial, repeat), we could set other goals for the advertising ROI. For example, say we have a simple model: %market share = %awareness x %attitude x %trial x %repeat. For the bank, we have 0.25 x 0.80 x 1.00 x 0.75 = 0.15. The bank struggled with awareness, which should be easily rectified by spending more money on advertising, e.g., by buying time in a medium that delivers more GRPs.How much would we have to increase awareness for the bank to achieve some market share goal (provide a calculation)?What else would you like to know for a more thorough assessment?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started