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Module 7 Individual Homework

Module 7 Individual Homework

Q Instructions Scenario 7: Module 7 LusterLast®: Business Year 2020 The sales of LusterLast® shampoo are popping throughout the marketing channels. Senior management is convinced that this healthy growth of orders is due to the advertising campaign and positive social media chatter. They are even convinced that if they had allocated a more substantial budget, the incremental revenue stream would have flowed even stronger. The company is also considering expanding the line. They are especially interested in reviewing activity emanating from the firm's website. Ashanti assigns you to calculate the brand’s current share of voice. She also wants you to provide her with the following data for the previous year related to digital promotional efforts. • Bounce Rate • Abandonment Rate • Cost per Click • Cost per Order Your friends in MIS have provided you with the below data. LusterLast® Business Year 2019 Brand Advertising ($) Number of Clicks* (#) Orders Thru Web Site (#) Order Thru Web Site Initiation (#) Orders Not Completed (#) Visits Accessing Only Single Page (#) Total Visits to Web Site (#) 1,500,000 5,800,000 1,400,000 1,890,000 490,000 1,050,000 4,200,000 *Includes all routes to the company web site, whether through a social media ad, internet browser, web site link on print ad, or QR code connection. Industry Stats Business Year 2019 Total Market Advertising ($) 250,000,000 Place your data in your spreadsheet. Include brief commentary about what the data means to you and, possibly, what other data might assist in understanding promotional spending by the firm. Fine tune your Balanced Scorecard. Be prepared to defend your selection of Key Performance Indicators (KPIs) that you included in your Balanced Scorecard. ________________________________________

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From the above table, we can see that the bounce rate of the company is 25%, which means that 25% of people only visit a single page of the website rather than visiting the full website. The company abandonment rate is 25.93%, meaning that the people leave the page before placing an order. The abandon rate refers to the number of customers who leave or quit before completing a job. Abandon call centres, and online retailers often use rates. Call centres may be under-allocating resources, or online stores may have higher abandonment rates. Cost per click is the amount spent to get the advertisement clicked. The company cost per click is 25.86% which means that the company pays a high cost per click to advertise. The cost per order of the company is 45.59%, and it is the cost which the company incurred to acquire an order.