Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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?

image text in transcribed
Bank and Hotel Perceptions Bank 25% 80.0% 100.0% 75.0% Hotel 80% 37.5% 83.3% 80.0% Awareness Attitude Trial Repeat Time 9 V s

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Services Marketing Concepts, Strategies, & Cases

Authors: Douglas Hoffman, john Bateson

4th edition

1439039399, 978-1439039397

More Books

Students also viewed these Marketing questions