ASSIGNMENT/PROJECT FRONT SHEET

CIM Membership Number: #40047588

Module Title: Marketing & Digital Strategy (2210)

Level: Level 6

Accredited Study Centre: IPM Business School

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 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588

From: Marketing Manager

To: Senior Management Team

Rīga, 24.03.22

Task 1a. Situation Analysis, Planning, Implementation and Control, Marketing Plan

SIA SFT SEAFOOD background (two sides of A4 paper)

Organisation name: SIA SFT SEAFOOD. Founded in July 2017, SIA SFT SEAFOOD is native Latvian
company. SIA SFT SEAFOOD office is located in Riga, Latvia.
Type of organisation: SIA SFT SEAFOOD is a privately-held distribution export-oriented company.
Size of organisation: SIA SFT SEAFOOD has 10 full-time employees in Latvia. The total company’s
export turnover for EU market in 2021 - 3,27 million EUR. EU export market volume in 2021 - 30,88 million
EUR. SIA SFT SEAFOOD EU market share in 2021 - 10,59%. SIA SFT SEAFOOD is focused on the
export wholesale trade in canned and frozen fish products. The product portfolio includes sprats in oil,
sprats in tomato sauce, fried spats, fish burgers and meatballs, frozen fish products (steaks, fillet, gutted
fish). SIA SFT SEAFOOD is the owner of brand AMBERFISH and for web resource www.amberfish.lv. SIA
SFT SEAFOOD products are supplied to the EU market both under the brand name AMBERFISH and
using private branding at the request of the customers.

Key Customer base: B2B segment - distributers and chain supermarkets. See Table 1.

Table 1. Customer base information, summary for 2021

Customer base (EU market)

Type of organisation Quantity

Distributor 37

Chain supermarket 1

Total:

Main competitors: Table 2 shows the competitors of SIA SFT SEAFOOD with an indication of their MS in
the EU export market in 2021.

Table 2. Main competitors in 2021

Stakeholders: in order to clearly see social connections, hidden dangers and company prospects, MD
identified an ecosystem of internal and external stakeholders who can positively or negatively influence to
the SFT SEAFOOD (see Tables 3 with data of stakeholders with its level of influence).

 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588

Table 3. SIA SFT SEAFOOD external stakeholders

Level of
stakeholder External stakeholders Internal stakeholders involvement at the moment
influence

the influence of external stakeholders is maximum

Shareholders, End
(active competition, changes in the behavior patterns of
costumers, Suppliers,
TOP managers, Staff the end consumer, higher prices for energy resources,
Logisticians and delivery
(Procurement Team logistics and raw materials, changes in fishing quotas,
HIGH companies, Competitors,
Members, Sales Managers, extended payment terms for goods from chains and
Government and
Marketing Managers) distributors, etс.) / the influence of internal stakeholders
regulators, Retail Chains,
is not enough: lack of employees, their low motivation
Distributors
and the level of education)

the level of external stakeholders involvement is

Financial institutions
sufficient, there is no need to further involve, the
(Banks), Lenders and Financial function (Financial
LOW company's financial situation is stable; engaging of
Investors, Professional Department)
internal stakeholders is sufficient, the control and
industry associations
reporting system works without problems

Key Customer segment: in Table 4 SIA SFT SEAFOOD existing key customer segments described.

Table 4. SIA SFT SEAFOOD existing key customer segments

Type of
#1 #2
Segmentation

distributor in the local market, medium and

Demographic distributor in the local market, small supermarket
large supermarket chains, turnover from 1
Segmentation chains, turnover from 600 thousand euros per year
million euros per year

Germany, Italy, Great Britain, Netherlands, Check Republic, Slovakia, Slovenia, Greece,
Geographic
Spain, France, Denmark, Ireland, Finland, Bulgaria, Hungary, Moldova, Romania, Lithuania,
Segmentation
Portugal, Belgium, Malta, Sweden, Austria Estonia, Ukraine, Poland

prefer long-term partnerships; conduct tenders

constantly change suppliers, are in search of new
detailing their requirements; they appreciate the
profitable offers; discuss in detail the terms of
service, quality and are ready to pay for it; the
Behavioral cooperation to get the best offer; appreciate the
decision on a specific group of goods is made
Segmentation favourable price and delivery terms; the decision
by responsible managers; the personal
on all issues is made solely by the top manager,
relationship between seller and buyer can be
who may be the owner of the campaign
critical

it is not enough to attract and sell, the goal is to

Lifecycle or Customer
retain and turn into a regular customer for retention and repeat purchases can be primarily
Journey
repeat purchases, providing quality service, ensured by generating profitable offers
Segmentation
after-sales service, managing loyalty

Theme chosen and rationale for choice:

From 2018 to 2022, the market for canned and frozen fish products is continuously growing. Growth was
+43,1%. In 2021 alone, the market growth amounted to +19,1%, while the increase in the market share of
SIA SFT SEAFOOD was only +2.3%. This fact is explained by the ine cient current customer
experience strategy: no Data Driving approach (CRM is not fully implemented, end-to-end analytic is
not implemented, marketing researches are not conducted), KPIs and metrics to monitor the work ow of
each department not identi ed, omni-channel marketing communication not used, low brand and
customer awareness. Determined by experts that canned and frozen sh consumption growth will
continue for at least the next 5 years due to changes in customer behaviour patterns and the Covid-19
pandemic, healthy lifestyle trend and unstable political situation. SIA SFT SEAFOOD has the capabilities,
resources and experience to penetrate existing markets in order to increase sales to existing and new
customers. The obvious path - to deliver the strategic marketing plan, with the objective of creating
competitive advantage through the introduction and enhancement of an e ective customer
experience strategy.

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 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588

MARKETING PLAN for 2021 - 2024 (ten sides of A4 paper)

Task 1b. Strategic Audit

To deliver the strategic marketing plan, with the objective of creating competitive advantage
through the introduction and enhancement of an effective customer experience strategy analyse of
SIA SFT SEAFOOD macro and micro environments was made.
SIA SFT SEAFOOD mission - to offer more and more customers worldwide a wider range of sprats,
created by traditional Latvian recipes in one of the best factories in Europe, as well as other qualitative
canned and frozen fish products at reasonable price.
SIA SFT SEAFOOD vision - thanks to the uniqueness, quality and reasonable price of the company's
main product - sprats prepared according to traditional Latvian recipes, as well as the quality and
reasonable price of other canned and frozen fish products, within 10 years from the date of the
campaign's foundation, to become one of the leading exporters in the markets of the EU, the USA,
Canada and Asia. Presently mission and vision respond to the current market situation. Revision is not
needed.
EU market overview: export wholesale trade market in canned and frozen fish products in year 2021
reached 30,88 million EUR. According to EUMOFA data, the total market size of the canned and frozen
fish products in EU in 2021 grew by +19,1% compared to 2020. SIA SFT SEAFOOD EU market share
grew only for +2.3% compared to previous year. Share of each market in which SIA SFT SEAFOOD is
presented: CZ - 42,15%, DE - 12,30%, PL - 14,24%, UA - 4,80%, LT - 5,96%, EE - 6,69%, IT - 65,02%,
GB - 13,30%. In the markets of the Netherlands, Slovakia, Spain, France, Denmark, Ireland, Finland,
Slovenia, Greece, Portugal, Belgium, Malta, Bulgaria, Sweden, Austria, Romania and Hungary, the total
export volume of which in 2021 amounted to more than 11 million euros SIA SFT SEAFOOD is not
represented. SIA SFT SEAFOOD does not supply its products to the Latvian market due to low profit, high
competition.

Table 5. TOP 4 competitor analysis.

Brīvais Vilnis Karavella Gamma-A Banga

Company age, years <20 <20 11 15

Brand and product
high high high high
awareness
medium,
large, has been operating since medium,
large, has been operating production
Production capacity USSR times; relatively new equipment
since USSR times equipment
equipment changed in 2020
changed in 2017
Number of product
<20 <20 10 16
groups
main - Russia and Belarus,
EU, Israel,
Sales market EU, Ukraine, GB Ukraine; in EU only Germany, EU, Ukraine, GB
Kazahstan
Sweden, Norway, Poland, GB
Distributors and big retails Distributors and
Sales Channels Distributors Distributors
supermarkets supermarkets
Number of customers <100 <120 <75 <65
direct communication with direct communication with
omni-channel,
existing customers, new existing customers, new omni-channel,
Marketing average e-
customers come through customers come through «word average e-
communication commerce
«word of mouth», e-commerce of mouth», e-commerce is used commerce usage
usage
is used minimally minimally
The competition is high. Key issues:
- competitors on the market for more than 10 years, and therefore have rich experience, stable contact
with customers, recognizable, the level of product awareness is high
- competitors have large production capacities, which, first of all, is dangerous due to dumping (as a tool
of competition) on their part for similar products
- geography and customer segmentation of competitors are almost identical to target markets and
customers of SIA SFT SEAFOOD
- the number of competitors' clients is greater than that of SIA SFT SEAFOOD, which in the current
situation makes their position more stable in terms of financial capabilities.

 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588
The weakness of all competitors is marketing communication with existing and potential customers. SIA
SFT SEAFOOD's use of omni-channel marketing communications based on the aggressive use of e-
commerce is a chance to gain a clear competitive advantage.

Trend analysis
During the last 3 years the behaviour of the end customers of the fish products changed due to pandemic
and lifestyle trend associated with the consumption of healthy and wholesome food. In 2021, apparent
consumption was estimated at 24,9 kg per capita, a +5,7% compared with 2020. The most consumed
species were canned and frozen fish products (source: EUMOFA). This trend is identified as a mega trend
for the next 10 years. In Table 6 below assessed main SFT SEAFOOD trends for next 3 years according
to the forecasts of the SIA SFT SEAFOOD management, sales and marketing departments by PEST+L
model.

Table 6. SIA SFT SEAFOOD trend radar for 2022-2025 by PEST+L model.

The trend radar clearly illustrates two main positive trends: an increase in fish consumption, which directly
affects sales growth, and the development of e-commerce, which allows improving marketing
communication qualitatively. The radar also demonstrated two main negative trends that need to be act
immediately: an increase in prices for energy resources and raw materials, which directly affects sell
prices and complicate the competitive environment. Trend radar also outlined that for macro
environmental analysis LoNG+TEMLES+I model should be used to identify the influence of Market and
Informational factors.

Macro environment analysis

As Trend Radar outlined the frame LoNG + TEMPLES+I for macro environmental analysis was used.
Local factors were expelled. This level does not affect the activity of export-oriented SIA SFT SEAFOOD.

Table 7. Macro analysis by model LoNG + TEMPLES+I

Conclusion on the overall
Factors NATIONAL GLOBAL
influence
- lack of skilled sales and marketing
managers
- e-commerce is booming
should respond immediately
Technological - innovations are emerging that
- lack of employees for stacking and can reduce production costs
to counter threats
packaging products in production

 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588
Conclusion on the overall
Factors NATIONAL GLOBAL
influence

- economy tends to pre-pandemic - costs of energy and logistics

level resources are rising
- state guarantees and funding from - possible costs for the
should respond immediately
Economical EU funds available introduction of environmentally
to counter threats
- raw materials become more friendly technologies and
expensive production standards
- inflation is rising - inflation is rising

- tough competition with companies - tough competition with companies USP should be clearly
Market focused on the export of similar focused on the export of similar identified to compete in sales
products to the EU markets products to the EU markets markets

- should immediately take

- main threat: limitation of fish
advantage of the available
- state support for exports from catch, which will lead to an even
funding to promote their
Latvia to EU countries greater rise in the cost of raw
Political products in the EU
- changes in taxes and introduction materials
markets and in the world
of additional duties are not planned - geopolitical factors contribute to
the rise in price of food resources
- catch quotas should be
closely monitored
changes should be
monitored, as the
introduction of a new type of
- the country's legislation on the - in international agreements on the
product quality certificates,
Legal industry does not yet assume industry does not yet assume
new standards, changes in
changes in the near future changes in the near future
international agreements
may affect the company's
business
- fish consumption on the rise due to - the influx of refugees into the EU
pandemic and healthy lifestyle contributes to the growth of sales
social factors promote
trend of the company's products
innovation and campaign
Social - the consumption of canned and healthy lifestyle trend
development, which will lead
frozen fish is growing due to the - household inventory trend due to to increased sales
geopolitical situation (the end pandemic and geopolitical
consumer stocks up) factors
changes should be
- permanent deterioration of weather monitored and measures
conditions may lead to problems
- new production standards
taken in a timely manner so
associated with environmental
Ecological with the catch of raw materials that these factors do not
friendliness and waste recycling
- additional requirements for waste will increase costs
affect the production and
disposal are fraught with costs marketing of campaign
products
cooperation should be
- government agencies actively
- state institutions are actively continued with state
promote Latvian products at this
promoting Latvian products in order institutions that are actively
level in order to increase Latvian
Informational to increase Latvian exports to the EU engaged in the promotion
exports to world markets (carry out
markets (national exhibitions of and popularization of Latvian
international promotional
Latvian manufacturers) goods at the national and
campaigns)
global level
- the influence promotes to create
competitive advantages through - global factors contribute to the
the the effective customer development and implementation
Conclusion on the
experience strategy using EU of innovations
influence at the
level
funds, consumption growth, - there are threats due to
- there are threats due to environmental, market and
environmental, market and political political factors
factors
According to analysis performed by LoNG + TEMPLES+I model the situation on the European market is
developing positively for SIA SFT SEAFOOD. The market is growing due to the consumption grow of
canned and frozen fish products because of the changes in the pattern of behaviour of the end consumer
due to the pandemic, geopolitical factors and healthy lifestyle trend. There are threats: production and raw
material prices are rising due to higher energy prices and logistics costs due to unstable situation in
certain states, but the general state of the economy is improving and tending to pre-pandemic level. As
well additional regulation in the industry by state structures, restrictions in trade policy or on the extraction
of raw materials, restrictions on exports or imports are possible. There are wide opportunities to develop at



 Marketing & Digital Strategy (2210), Assessment session - April 2022
CIM Membership Number #40047588
the expense of financing from state institutions. The level of threats evaluated as medium and is not a
reason to abandon development plans and innovation implementation. It is necessary to monitor the
changes in these threat factors respond in a timely manner.

Micro analysis based on a model of 5 Porter Forces (developed by Michael Porter in HBS in 1979) .
The market is growing and therefore attractive to new players due to the low barrier for entry. But new
players cannot withstand the tough competition in the market, cannot ensure the sufficient quality of the
products to which the consumer is accustomed, adherence to storage technology, strict adherence to
delivery times, aggressive advertising of their products. New players do not have enough experience and
resources. At the same time SIA SFT SEAFOOD has the resources to compete: finances, teams of sales
and marketing managers sufficient experienced, high-quality and competitive products, brand awareness
and trust to it among customers are sufficient, the products fully correspond to the preferences of
customers, substitute products not many.

Internal analysis data

For internal analysis frame 5P is used (developed by Neil Borden at Harvard University in 1964).
Evaluation of each P value on a scale of 1 to 5 (1 - minimum; 5 - maximum), is assessed.

Table 8. Internal analysis by frame 5P

All products comply with EU quality standards. This compliance is checked twice
a year by a specialized laboratory. The product portfolio, the number of product
flavors, packaging and other qualities correspond to the preferences of
Product has 4, as some
customers (both distributors, retail chains and the end customers). The
Product of the products need to
locomotive product from 2018 to the present is the product of sprats in oil in a
be improved
can of 250 g. Some products (Sprat in tomato sauce, Sprats in tomato sauce)
need to be improved, because they are qualitatively inferior to competitors'
products.
At the moment, communication in order to provide information about the
company's products, to find out the preferences and wishes of customers was
Promotion has 1, as low
carried out exclusively pointwise, that means, it was irregularly sent to existing
brand and customer
customers. There were no marketing campaigns in order to increase brand
Promotion awareness due to lack of
awareness and get into the consideration list, as well as to attract customers
omni-channel marketing
from other regions of the EU. Market research was not ordered, the company
communication
implemented a planning style that can be described as intuitive: we sell what is
sold and how it is sold.
Price positioning does not match the market. Prices for SIA SFT SEAFOOD
Price has 2, as prices do
products are focused on competitors, regulated by the quantity and quality of raw
not correspond to the
materials, the volume of production and transport costs to the client. The
market, are incorrectly
average markup at the moment is from 5% to 10%, which is critically not
oriented, the markup is
satisfied with business owners. Such a profit with such a markup is not sufficient
Price insufficient, the profit is
for development and promotion, because the costs are constantly growing +
minimal, which in the
there are hidden costs, such as, for example, payback to partners for each
future is fraught with the
consignment of products. As a result, the average profit fell to 6.95% from
threat of uncovered rising
January 2018 to December 2021. Payment terms for products are in line with the
production costs
market. More discounts than competitors.
Now SIA SFT SEAFOOD cooperates only with a limited circle of clients from B2B
segment. As a result, the company's products are represented only by a small
Place has 2, as the
number of distributors and one supermarket chain in a particular region. The
number of customers is
Place range of competitors' products from SIA SFT SEAFOOD partners, other
not enough, production
distributors and supermarket chains is wider, the number of customers is several
facilities are not loaded
times higher than the number of SIA SFT SEAFOOD customers / partners by 2
times.
The number of employees in the sales department is 3 people. Their work is not People has 2, as team
monitored, KPIs are not measured. The sales model used by sellers is works chaotically and
aggressive dumping. They try to get the client for providing the best price, other without control,
unique trade advantages (product quality, delivery time, packaging, shelf life, sometimes incompetently,
People
etc.) are not used. Until recently, there was no marketing department in the which is the reason for
company either. Inquiries about products received through the platform the loss of existing
www.amberfish.lv are answered poorly, if at all. New clients are not attracted. customers and the lack of
When a regular customer leaves, they do not fight to maintain cooperation. new ones

 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588

Based on the results of the VRIO analysis, was assessed that the balance of strengths and weaknesses
is critical (see Table 9 below).

Table 9. Results of VRIO analysis

Resource V R I O Strategic implications Strength or Weakness
energy, raw, other production
+ - - + competitive parity W
resources
production capacity and equipment + - + + competitive strength S

production experience + + - + competitive strength S

own financial resources + + - + competitive strength S
access to EU funds + + - - competitive parity W
sales and marketing team + + - - competitive parity W
marketing communication + + - - competitive parity W
quality + + - + competitive strength S
brand awareness + - - - competitive weakness W
The VRIO analysis assessed that the balance of strengths and weaknesses is critical. But such
competitive strengths in key resources as production capacity and equipment, experience in production,
own financial resources, products quality, as well as competitive parity in access to EU funds, sales and
marketing teams, marketing communication demonstrate possibility to create competitive advantages.
Considered 7s McKinsey framework for internal analysis, assessed that only 2 of the 7 elements of the
micro-environment correlate best with the company: Strategy and Shared Volumes. The elements of
Structure, Skills, Staff, Style and Systems contradict the campaign strategy, hinder the development and
achievement of the set objectives. Identified that the company needs a strategic planning system, KPIs
system, a CRM system to collect and analyze information, motivation for employees for sales growth and
execution of current tasks. These is necessary to maintain the existing market share and to coordinate the
activities of the entire business. Management style is another problem of the company, the management
supports a democratic management style that hinders the growth of the company. Management skills
must be immediately implemented in the company's system.

SWOT/TOWS analysis

Table 10. SWOT/TOWS Analyse

Strengts - S Weaknesses - W

- a wide range of quality products that

correspond to the preferences of - law brand and customer awareness

existing and potential customers

- weak level of digitalisation: wick
SIA SFT SEAFOOD TOWS - nancial resources and opportunity usability of www.amber sh.lv, CRM
to attract EU funds
not used

- the ability to increase production - weak marketing e-commerce activity

without signi cant costs

- the work of sales managers is not
- increased consumption of sh controlled, KPIs are not de ned
products by the end consumer

Opportunities - O SO WO

Omni-channel marketing communication

- the opportunity to reach a new (online and offline) with existing and high-quality marketing communication
potential costumer using e-commerce, potential clients due to available and to increase awareness of the
exhibitions (online and o ine)
affordable funding, technical and human AMBERFISH brand and products,
- the emergence of new partners
resources against the background of digitalization of the company: in
- the emergence of new suppliers
increased customer interest and the particular, end-to-end analytics, clear
- implementation of innovative growing market due to the quality of KPIs and control of the sales
technologies (e-commerce B2B products and services will provide department using CRM will minimize the
platforms to attract customers) maximum opportunities for enhanced impact of the company's weaknesses
penetration
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 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588
Threats - T ST WT

- price competition (larger market player

production optimization: high-quality
will set prices lower)
planning and production simultaneously in order to reduce the impact of
- changes in legislation and industry on several lines of products of the same weaknesses and make the company
standards
group (for example, sprats in oil + pate) less susceptible to the main external
- problems with suppliers due to a will reduce energy consumption, having threat - the rapid increase in production
pandemic
its own and affordable financing from costs, it is necessary to review the
- increasing prices for energy resources
EU funds will enhance communication structure of the company, clearly define
- introduction of high technologies into for penetration in the markets, that is, to goals, monitor the KPIs, use end-to-end
the industry (not enough nancial get new customers, thereby by analytics and ensure high-quality omni-
resources)
increasing sales volumes and market channel marketing communication
share

TOWS analysis demonstrated: SIA SFT SEAFOOD has the capabilities, resources and experience to
penetrate existing markets in order to increase sales to existing and new customers. To create
competitive advantage through the effective customer experience strategy it is necessary: to revise
the structure of management and control of the work of departments (CRM, end-to-end analytics,
objectives, goals and KPIs); to optimize production based on high-quality planning of order production in
order to increase the speed of execution and to save energy resources; to develop high-quality omni-
channel marketing communication is needed to increase brand and product awareness in order to
penetrate markets.

Task 1c. SIA SFT SEAFOOD marketing objectives.

SIA SFT SEAFOOD objectives were identified using SMART method (objectives' description model
that is based on specificity, measurability, achievability, importance, and certainty in time):
- increase the common market share up to 20% by Q4 2024 (up from 10,59% in Q4 2021)
- increase the volume of monthly sales up to EUR 514 600, year turnover up to 6,175 millions EUR by
Q4 2024 (up from 272500 monthly / 3,27 millions EUR in 2021)
- expand customer base up to 100 regular customers by Q4 2024 (up from 38 in Q4 2021)
- achieve digital transformation of www.amberfish.lv to LEVEL FOUR (quantified) by Q4 2024 (up from
level 1 in Q4 2021)
- increase in brand awareness up to 25%
- get into the top 3 sellers of canned and frozen fish products in EU by Q4 2024 (up from 5th place in Q4
2021).

Table 11. Cascaded SMART goals

Goal Tool for goal’s achieving Time bound

create ROAD MAP for all tasks with deadlines and at the initial stage to use Trello online platform, and
by Q2 2022
responsible executors after the implementation of the CRM - Zoho CRM

develop a complete catalog of company products task for the sales department by Q2 2022

launch image advertising campaigns (monthly 1

task for the marketing department by Q4 2024
campaign)

launch advertising campaigns with specific products and

prices for the company's products (monthly 2 task for the marketing department by Q4 2024
campaigns)

increase monthly traffic up to 500 visitors improve website performance, conduct marketing
campaigns (Search Engine Marketing, paid
increase number of monthly orders up to 10 Search, affiliate Marketing, Sponsorship, Display
advertising, Content Marketing, Image advertising,
by Q4 2024
Social Media Marketing, online PR, e-mail
increase conversion rate up to 2,25% marketing, offline media advertising,
implementation of an e-loyalty program,
increase the average check (order) up to 50 000 euros improvement of delivery service)

build a process for generating initial monthly requests up

SEO, inbound marketing and targeted advertising by Q4 2024
to 100

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 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588
build a process of repeated request up to 50 per month E-mail marketing, telemarketing by Q4 2024

monitor, measure and improve CRO task for the marketing department by Q3 2023

evaluate the customer journey and site usability, which

task for the marketing department (CRO manager) by Q4 2022
will increase conversion (number of orders)

conduct an SEO audit of the site, which will improve the

SEO specialists by Q3 2022
position in organic search

integrate Zoho CRM on the website for end-to-end

analytics and connect to BI systems to create
IT specialists by Q4 2022
dashboards with analytics data to evaluate the sales
funnel: its cons for improving

arrange the qualitative work of the sales managers with

task for the sales department by Q3 2022
customers

Task 1d. SIA SFT SEAFOOD strategic options with STP and tactical mix to achieve set goals.
SIA SFT SEAFOOD is currently “stuck in the middle” as no clear direction of the competitive strategy has
been previously chosen, it does not work effectively and operates under strong competitive pressure. At
the moment, a company without a clear strategy of competition is losing market share (demonstrated with
data that increase in sales and in market share is minimal). As well customer experience is not improved.

For SIA SFT SEAFOOD Customer Intimacy with element of Product Leadership path was chosen.

Table 12. Customer Intimacy strategy argumentation (the Treacy & Wiersma framework).
Product leadership Operational excellence Customer intimacy
mostly excellent product quality,
close relationship with the end
yes advantage in innovation and marketing no reasonable price and sufficient yes
user
assortment
adherence to production and provides services on an
no operates in dynamic markets no yes
delivery times to the client individual basis
the ability to increase production
focus on development, design, high
no no volumes without significantly yes large assortment of products
rates of return in the short term
increasing costs
SIA SFT SEAFOOD Customer Intimacy will help to offer customers the best solution. This can be
achieved if we are attentive to the needs of our customers and respond quickly to them, introduce digital
innovations and omni-channel marketing communication, and optimize production costs. Cascaded goals
for the successful execution of the chosen strategy are indicated in Task 1c.
Key success factors:
- maintain stable market position in industry and develop ability to penetrate market in order to
increase profits; the existing products sold by SIA SFT SEAFOOD has not reached its market
coverage limit - it has sources of growth in terms of distribution and reaching a new target
audience
- match current trends in fish consumption
- increase the share of existing customers due to active and aggressive omni-marketing actions
- presence of clear competitive advantages
- data driving approach to evaluate and improve customer experience
- availability of resources
- availability of raw materials (no restrictions on fishing)
STP model:
- Segmentation (Core Industry & Market Size): EU, canned and frozen fish products (30,88 million EUR)
- Targeting (Key Customer Segments): only B2B, distributors and retail chains
- Positioning (SIA SFT SEAFOOD offers): wide range of canned and frozen fish products, artisan Latvian
sprats unique and high quality products at the reasonable prices.

Two customer personas identified. Details are given in Table 13 below.

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Table 13. SIA SFT SEAFOOD customer personas overview.
Manager Ēriks CEO Mihails

- age 35 - 50 years
- age 25 - 35 years - domicile in the EU
- domicile in the EU - higher education, continuing education
- secondary education and above - CEO or founder
- purchasing manager - has rich experience in the industry
- has experience in such work, but may be the first job - responsibilities: Increasing profit and other indicators of the
- responsibilities: search for new suppliers on the instructions company
of the CEO, direct manager or marketing department - salary 3000 - 5000 euros, annual financial bonus and golden
- salary 1000 - 1500 euros parachute
- motivation: salary and quarterly bonus - motivation: salary and annual bonus, reputation and self-
- goal: successfully complete the task (find a supplier, agree realization
on a price and other terms of cooperation, transfer to the - goal: by any available means to improve the performance of
head or to the examination department) the company, to control the work of employees
- behavior: often does not go into details, works formally, often - behavior: delves into details, works carefully, makes
slow; the quality of the goods is not of high importance, the decisions quickly; the quality of the goods is important, but
price is more important, and then recognition and other the price, recognition and other factors and conditions of
factors and conditions of cooperation cooperation that affect the profit and reputation of the
company are also very important

Tactical Mix for the SIA SFT SEAFOOD customer experience strategy implementation described by
frame 6P (see Table 14 below).

Table 14. Tactical mix by frame 6P

According to the analysis of the product portfolio + portfolio correspondence to the
customer preferences (BCG frame used), it was established: product portfolio satisfies the
market demand. In comparison with other competitors there are advantages in range,
Product quality and sometimes in price. To realise the chosen Strategy though customer experience
there is no need to make changes to the product portfolio. It is necessary with the
marketing researches to monitor the changes in customer preferences, and, depending on
these changes, adjust the SIA SFT SEAFOOD’s product portfolio.
To attract a potential B2B customer (distributors and supermarket chains) must be used
Promotion both online and offline owned, paid and earned media (Inbound and outbound) leveraging
digital opportunities with focus on competitive advantages through customer experience.
To attract the attention of the target customer persona, it is necessary to create a system of
Price moderate price motivation.
To implement the chosen strategy based on customer experience, the site
Place www.amberfish.lv should be improved for the convenience of existing and potential
customers within the existing budget.
For high-quality communication with customers all level staff should be trained in digital
People experience for monitoring and controlling communication at every stage end-to-end
analytics needed.
It is critically important it is critical to use improved home page, end-to-end analytics, clear
KPIs, CRM implementation to automate workflow with customers, carry out market
Process research, analyse the data obtained, collect a database of potential customers, identify
their pains and needs.

Task 1e. Identified Gantt chart, budget and resources necessary to implement marketing plan.

The selected Operational excellence strategy's implementation will require funding for the SIA SFT
SEAFOOD and its products active promotion targeted on identified customer personas (see above Table
13). Find planned budgets below in Table 15.

Table 15. Budgeting for strategy implementation.

Period, year 2022 2023 2024 2025

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CIM Membership Number #40047588
Planned turnover, EUR 2550000 5206000 6175000 3087500
Planned marketing budget,
4 4 3 3
% of turnover
Planned marketing budget,
102000 208240 185250 92625
EUR of turnover

SIA SFT SEAFOOD competitiveness, risks and benefits determined using SNW analysis. Analysis
demonstrated strength factors (each evaluated with 1 point, 5 points in common): additional funding
available, competitiveness of products, production level, market reputation, experience; neutral factors
(each evaluated with 1 point, 6 points in common): general corporate strategy, financial position,
personnel (shareholders, CEO), personnel (managers), personnel (employees in production), relations to
government Institutions; weakness factors (each evaluated with 1 point, 7 points in common):
organizational structure, resources for production, distribution, marketing communication, leadership,
relations to customers, service. Risks: the main risk for the implementation of chosen strategy is an
unstable geopolitical situation, primarily affecting the prices of resources needed for production (resource
risk), as well as the economic performance of Latvia and target export markets (economic risks). Possible
legal risks - restrictions on the catch of raw materials. Risk of tax changes. There is a personnel risk - a
lack of workers or their unworthy competence may affect production, service or the introduction of
innovations in general (innovation risk). Level of Seriousness for mentioned risks - High. Level of
Likelihood - Medium. The VRIO analysis in Task 1b assessed that the balance of strengths and
weaknesses is critical. But such competitive strengths in key resources as production capacity and
equipment, experience in production, own financial resources, products quality, as well as competitive
parity in access to EU funds, sales and marketing teams, marketing communication demonstrate clear
opportunities for strategy based on competitive advantages through customer experience improvement.

In order to evaluate the return on investment for the next 3 years, the planned ROI is calculated
(calculation formula: ROI = (Revenue - Expenses) / Expenses*100%) - the return on investment ratio.
Costs are projected at 45% of revenue in 2022, 40% of revenue in 2023, 35% of revenue in 2024 and
2025. Post-innovation revenue growth is projected at +29% in 2022, +22% in 2023, +18% in 2024 and in
2025. In result - favorable forecast.

Table 16. ROI index for the period from June 2022 to June 2025
2022 2023 2024 2025
Incomes EUR 2119000 5206000 6175000 3087500
Expenses EUR 953550 2082400 2161250 1080625
ROI % 122,22 150,00 186 186
For the high-quality implementation of the chosen strategic options and achievement of the set objectives
in the period from June in 2022 to June in 2025, a Gantt chart was drawn up (Tables 17)

Table 17. Gantt chart for the period from June 2022 to December 2022

 Marketing & Digital Strategy (2210), Assessment session - April 2022

CIM Membership Number #40047588

Gantt Chart for the periods January 2023 - December 2023, January 2024 - June 2025 must be prepared
for approval by managers, CEO and shareholders not later than October 31 of the current year for the
next.

Task 1f. Metrics SIA SFT SEAFOOD to monitor performance and measure the success of chosen
strategy illustrated according set objectives

For high-quality and successful strategy implementation, it’s needed to carefully track the results (KPIs).
To monitor achievement of the strategic objectives increase the common market share up to 20%,
increase the volume of monthly sales up to EUR 514 600, year turnover up to 6,175 millions EUR, expand
customer base up to 100 regular customers, increase in brand awareness up to 25%, get into the top 3
sellers of canned and frozen fish products in EU (set in Task 1c) key metrics are recommended: Market
Share to monitor each market separately and overall as a whole, evaluates the position and success of
the company; Revenue Growth Rate, Profit Growth Rate, Customer Growth Rate show the rate of
increase in revenues, profits and the number of customers of the company for a certain time, CSI directly
affects the level of loyalty, key metric for customer experience improvement, key loyalty metric NPS, which
determines brand/product/service loyalty and influences repeat purchases, CES which monitor customer
satisfaction, CLV which makes possible to predict net income for each client, ROI as the key indicator for
evaluating the effectiveness of investments, ROMI to assess of the profitability of advertising campaigns
and, in general, investments in marketing activities.
To monitor online actions and reactions (85% of external marketing communications) - digital metrics
should be used. Key metrics related to main SMART goals demonstrated by RACE model (created
by Dr Dave Chaffey).

Table 18. Key digital metrics by RACE model

Application to objective
Stage Metric Metric Assignment
objective

to measure potential customers' responds to

Open Rate / Click-To-Open
advertising according to the Costumer Journey - increase monthly traffic up
Rate / Unsubscribe Rate / Reach
along the sales funnel, to collect data about to 500 visitors
R (reach) / Views / CPM / CPV / CPC /
Share of new visitors / CTA /
unique visitors to the site, to recognise - effectiveness of
percentage of potential buyers who stopped using advertising campaigns
Traffic
a certain communication channel
Share Of Conversation (Voice) /
Clicks / registrations on the site / to measure potential customer' decision point by
- build a process for
generating initial monthly
Email Subscriptions / TSS (Time micro-conversions, to measure potential
requests up to 100
A (act) Spent on Site), PPV (Pages Per customers' interests, to analyse the percentage of - build a process of
Visit), Bounce Rate / Retention / returned customers, for evaluating and managing repeated request up to 50
Sessions / Social Reach / A/B the effectiveness of a web page
per month
Tests
helps to increase the number of repeat
CRR / Purchase Frequency / purchases, determines pricing, helps adjust - increase number of
Repeat Purchase Rate / Cost advertising costs, to measure potential monthly orders up to 10
C (convert)
Per Sale / CTR / Conversion customers' requests, to evaluate a group of - increase conversion rate
Rate customers who have done the same action in a up to 2,25%
certain period of time)
- integrate Zoho CRM for
end-to-end analytics
to measure the effectiveness (KPI), to indicate of
Customer Acquisition / LTV /
how customers think about AMBERFISH, to
- ROAD MAP execution
E (engage)
Engagement Rate / Returning
display the percentage of new clients, to define
- increase the average
Customers /Customer Turnover check (order) up to 50
the percentage of returned customers, to
rate 000 euro
measure customer loyalty
- increase the number of
regular customers

Recommendations: these metrics allow to evaluate the effectiveness of chosen strategy in the complex
and long term in order to solve the defined problems. For the correct calculation of metrics and KPI is
necessary to use the omni-channel approach and the maximum number of tools.

 Marketing & Digital Strategy (2210), Assessment session - April 2022

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From: Marketing Manager

To: Senior Management Team

Rīga, 24.03.22

Justification Report: Situation Analysis, Planning, Implementation and Control (word count - 2362
words)

Executive Summary:

This report contains information on the current situation in business of SIA SFT SEAFOOD - wholesaler of
canned and frozen fish products in the B2B segment. The information on the EU canned and frozen fish
products market, on the export sales volumes of SIA SFT SEAFOOD is provided. Identified the problem
with the minimal increase in volume of sales and EU market share. The strategic objectives were
identified. The strategy for the further development of the company in order to achieve strategic objectives
have been chosen. 3-year marketing plan was produced.

Task 1a contains information about background of SIA SFT SEAFOOD, customer base and main
competitors, information about external and internal stakeholders and the necessary interaction between
them, key customer segments, theme chosen and the rationale for strategic marketing plan with the
objective of creating competitive advantages through the introduction and enhancement of an effective
customer experience strategy.

Tasks from 1b to 1f includes produced 3-year Marketing plan based on situation analysis, market data,
strategic audit, which includes trend radar by frame PEST+L, competitive analysis, macro, micro and
internal analysis performed by LoNG+TEMPLES+I, model of 5 Porter Forces, frame 5P, VRIO analysis, 7s
McKinsey frame and SWOT/TOWS analysis. Marketing objectives are identified in Task 1c, as well as
strategic options and supporting tactical mix with implementation details and metrics, which should be
used to measure and adjust the execution of Marketing plan, are indicated. Gantt Chart with identification
of the budget and resources necessary to implement the marketing plan were assessed.

In Justification report you can find key issues from the marketing audit that shaped the content of
marketing plan, the S.O.S.T.A.C. model for efficient marketing planning, justification of the tactical mix
(online and offline), justification for choice of measurement tools for determining the success of the
marketing plan and explanation how the results will influence the continuous actions.

Recommendations

The report revealed a problem with sales in the B2B segment due to lack of quality marketing actions in
the previous period, which is the reason for the pour brand awareness, lack of information for the potential
costumer about the SIA SFT SEAFOOD products and services, as well as its new products, prices and
terms of cooperation, insufficient customer base and lack of mechanisms to control the workflow of sales
managers, as a result of which existing clients leave, new ones are not attracted. MD recommends to
create competitive advantages through the introduction and enhancement of an effective customer
experience strategy to penetrate existing markets during next 3 years to solve this problem and strictly
follow to the produced 3-year Marketing plan that will lead to improved growth of market share in EU
market.

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Task 2a. Key issues from the audit that shaped the content of the marketing plan (word count - 232
words)

During the audit, the data on the European market as a whole and for each region separately were
evaluated. It was determined that the market is growing and promising. At the same time, the SIA SFT
SEAFOOD's market share differs significantly from its competitors.

Key problems were identified due to which the company's increase in sales in 2021 was minimal:
- lack of quality marketing actions in the previous period which is the reason for pour brand and products
awareness about the SIA SFT SEAFOOD existing products and services, as well as its new products,
prices and terms of cooperation
- insufficient customer base what affects the market share, revenues and stability of the company
- lack of mechanisms to control the work of SIA SFT SEAFOOD sales managers, as a result of which
existing clients leave, new ones are not attracted what affects sales volumes

However, SIA SFT SEAFOOD resources were also evaluated by VRIO analysis, выявлены угрозы,
преимущества и возможности (confirmed by Trend Radar, LoNG+TEMLES+I, 7s McKinsey frame, 5
Porter Forces, SWOT/TOWS analysis). In result the optimal development strategy for SIA SFT SEAFOOD
for the coming next 3 years is create competitive advantages through the introduction and enhancement
of an effective customer experience strategy to penetrate EU market.

Considering the chosen development strategy the S.O.S.T.A.C. model was chosen for efficient planning.

Table 19. SOSTAC model

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Marketing & Digital Strategy (2210), Assessment session - April 2022
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 Marketing & Digital Strategy (2210), Assessment session - April 2022
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Task 2b. Strategy choice justifying, referring to SIA SFT SEAFOOD objectives, STP and theoretical
models (word count - 575 words)

It was concluded that because of the to lack of quality marketing actions in the previous period, which is
the reason for the pour brand awareness, lack of information for the potential costumer about the SIA SFT
SEAFOOD products and services, as well as its new products, prices and terms of cooperation;
insufficient customer base and lack of mechanisms to control the work of sales managers, as a result of
which existing clients leave, new ones are not attracted, which led the company to a minimal increase in
market share and profit in a rapidly growing market ( demonstrated in Task 1b).

Justified that the optimal development strategy for SIA SFT SEAFOOD for the coming next 3 years
is create competitive advantages through customer experience to penetrate existing markets.



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The main competitive advantage identified by the competitor analysis in Task 1b is aggressive marketing
communication in a rapidly growing e-commerce environment. The next advantage is the trend
towards the consumption of canned and frozen fish (assessed by Trend radar). The advantages
identified by the analysis of LoNG + TEMPLES + I: the availability of financing from EU funds, the
possibility of optimizing production in order to reduce costs and maintain competitive prices for
manufactured products. Another advantage is the availability of resources and financial stability of
the company (demonstrated by VRIO analysis).

The choice of strategy is confirmed by the Ansoff matrix.

Table 20. Ansoff matrix

The chosen strategy based on key competitive advantages to improve the customer experience will
contribute to the achievement of strategic objectives:

- increase the common market share up to 20% by Q4 2024 (up from 10,59% in Q4 2021)
- increase the volume of monthly sales up to EUR 514 600, year turnover up to 6,175 millions EUR by
Q4 2024 (up from 272500 monthly / 3,27 millions EUR in 2021)
- expand customer base up to 100 regular customers by Q4 2024 (up from 38 in Q4 2021)
- achieve digital transformation of www.amberfish.lv to LEVEL FOUR (quantified) by Q4 2024 (up from
level 1 in Q4 2021)
- increase in brand awareness up to 25%
- get into the top 3 sellers of canned and frozen fish products in EU by Q4 2024 (up from 5th place in Q4
2021).

In Task 1d the current STP and Target Personas have been developed.
- Targeting: it is recommended to continue targeting exactly these persons - purchasing managers and
CEOs of companies in the B2B segment (distributors and supermarket chains), also add an internal
target person to the communication - employees of the company, on whom the success of the
implementation of the chosen strategy depends, in order to increase their interest and motivation;

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- Segmentation: remains unchanged - EU, canned and frozen fish products; the geographic regions of
the European market were also identified for the initial active promotion. These are the markets where
SIA SFT SEAFOOD is already present: Czech Republic, Germany, Poland, Ukraine, Lithuania, Estonia,
Italy, Great Britain. And the regions are marked in which there are no company products yet, but they
are promising: the Netherlands, Slovakia, Spain, France, Denmark, Portugal, Greece, Bulgaria,
Romania, Hungary, Moldova;
- Positioning (SIA SFT SEAFOOD offers): for external communication leave unchanged - wide range of
canned and frozen fish products, artisan Latvian sprats unique and high quality products at the
reasonable prices, as it is fully consistent with the mission and vision of the company; for internal
communication implement position based on motivation with financial bonuses, career growth,
selfishness, vanity and self-esteem.

Task 2c. Justification of the tactical mix (online and offline) in terms of achieving the chosen
strategy (word count - 706 words)

F. Kotler said: “marketing communications are the means by which firms try to inform, convince and
remind consumers, directly or indirectly, about their products and brands. Marketing communications
management is a purposeful activity of a company to regulate market stability through information
technology.”

The marketing concept of SIA SFT SEAFOOD: the key to achieving the objectives is to determine the
needs and requirements of target markets and satisfy consumers in more efficient ways than competitors,
that is, with the help of competitive advantages (identifies in Task 2b). Communication is focused on the
B2B customer. The aim - to convince the consumer that this product will best meet his needs.

Tactical Mix for the SIA SFT SEAFOOD's chosen strategy implementation is developed by frame 6P (Task
1d) and detailed in SOSTAC model (Task 2a). Target personas external communication defined in Task 1b
and replenished with Target persona for internal communication.

For external communication recommended offline and online communication. The volume of
communication online is 85%, since the development of e-commerce is rapid. It allows you to reach the
customer quickly and efficiently. The analysis of competitors revealed, aggressive omni-channel
marketing communication is one of the main competitive advantages of SIA SFT SEAFOOD.

For internal communication among employees, should be used online tools (mailing) and offline -
meetings, presentations, informal meetings.

In Task 2a in marketing plan by SOSTAC model (section Action) the budget for the next 3 years for
external and internal communication is developed. In Table 21 detailed budget for promotion assessed.

Table 21. Detailed budget for planned activities for the period June 2022 - June 2025 indicating the type of activity -
online or offline.

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External communication should be carried out only in B2B segment. Communication must be aggressive,
but thoughtful: aggressive does not mean placing information about SIA SFT SEAFOOD in all possible
media. The choice of placements for information placement should be planned and targeted in order to get
the desired result. For existing customers, new customers among distributors and among supermarket
chains, the main communication channel is the Internet through Paid and Owned media. The purpose of
communication - direct sale of company's products. Earned media should also be used, since positive
comment on social networks or a recipe from a blogger with a dish from the company's products can lead
to getting into the Consideration list or serve as a final impetus for a customer's decision. The content of
the communication should follow a push-and-pull model with information about products, recipes, terms of
cooperation, benefits and other unique trade advantages. In especially important regions, it is possible to
covertly oppose competitors' products.

However, in this communication it is important to use offline channels - exhibitions and sponsorship
(charity activities). This is important for B2B, and this channels can be used through partnerships and
sponsorship of sports and cultural events/specialised organisations (medical and public). Participation in
exhibitions should be used as a separate activity: both for the business environment and for the end
consumer. This is direct communication with potential clients and an opportunity to establish a strong and
promising contact in a short period of time.

Outlined that any communication involves the collection of customer personal data and this data further
use. All activities and further storage of the collected data must be relevant to the GDPR and laws of the
EU.

Rationale for choosing an online format for external marketing communication compared to offline
channels:

- the ability to develop in detail the audience of any campaign

- greater audience coverage for digital tools, combined with a smaller budget for this qualitatively and
quantitatively large audience
- the ability to predict the result of each activity
- the possibility of a qualitative measurement of the result
- the ability to quickly start the campaign and promptly adjust the content of the campaign's offer or
cancel it
- lower customer acquisition cost
- the ability to collect customer database indicating preferences, pains, degree of interest
- more advertising tools for any activity
- possibility of customer feedback
- easier to find qualified personnel for the implementation of marketing activities in the digital space.

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Due to external online communication, when fulfilling the set SMART goals (set in Marketing Plan
in section Objectievs), the achievement of the company's strategic business objectives will be
ensured.

Task 2d. Explanation for the critical success factors involved in the implementation of the chosen
strategy (word count - 378 words)

Critical success factors - activities for the implementation of the strategy, competitive opportunities,
performance that each company must provide in order to be competitive. Critical factors - driving forces
that SIA SFT SEAFOOD should pay special attention to for the success in the market, its competitive
opportunities that directly affect profitability.

The following critical success factors for SIA SFT SEAFOOD for the implementation of the chosen
strategy have been identified.

Technological and production factors:

- innovations in the production process will help reduce costs and maintain competitive prices for
products, ensure low cost by scaling production
- compliance with the technological requirements of state institutions (environmentally friendly
production, high-quality waste processing) will provide access to EU funding and the absence of
additional costs
- protection of product quality will ensure the choice of goods by the end consumer in favor of the
company's products
- maintaining high production capacity will ensure the ability to produce large volumes of products
- a skilled labor force will ensure high-quality production of goods and high productivity.
Distribution factors:
- the presence of the company's products in a wide network of wholesale distributors/dealers and
supermarket chains will help increase sales.

Marketing factors:
- quality order execution will improve customer experience and increase repeat orders
- a portfolio of products that meets the demand in the market will make it possible to offer the consumer
exactly the right products
- high-quality external marketing communication will increase awareness, increase the number of
contacts with customers, requests from customers
- high-quality internal marketing communication will provide motivated employees, on whom the
successful implementation of the chosen strategy depends.

Skill related factors:

- experience in production will allow you to competently optimize production, produce paired products,
thereby reducing costs.

Organizational factors:
- due to an established internal communication system and corrected business processes, the ability to
quickly respond to a changing market situation (well-established decision-making process).

Other factors:
- the absence of additional restrictions on fishing will not increase production costs
- access to EU funds will help to reduce own costs and provide an opportunity to develop
- having patents will make it possible to sell the product to more consumers, especially those for whom
compliance with international requirements and requirements for components is important due to
mental characteristics or religiosity (NSC, IFS, kosher food).

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Task 2e. Justification for choice of measurement tools for determining the success of the
marketing plan and explanation how the results will influence the continuous actions (word count -
471 words)

The choice of metrics to measure the implementation of the marketing plan is based on the SIA SFT
SEAFOOD's priorities and analysis of the effectiveness of promotion channels. Monitoring performance
should be carried out regularly. It will help react quickly to the changes. KPIs analysis, market and brand
metrics is scheduled once a month. Considering that the Internet is the main channel promotion, metrics
for measuring online indicators are important. Should be measured weekly.

Starting the implementation of the chosen strategy, it is critically important to fix metrics’ indicators and
then regularly monitor them. In case of changes, it is necessary to respond and make changes to the
current communication. If necessary, make changes to the product according to the changed preferences
of customers. Each of the indicators is important for achieving the strategic objectives, it can increase
efficiency, help to achieve result using a smaller budget.

The key metrics for measuring success are (illustrated in Takas 1f): Market Share - it is necessary to
monitor each market separately and overall as a whole, evaluates the position and success of the
company; Revenue Growth Rate, Profit Growth Rate, Customer Growth Rate - show the rate of
increase in revenues, profits and the number of customers of the company for a certain time, if it
decreases, then you need to change tactics and, possibly, strategy; CSI - should grow, directly affects the
level of loyalty, key metric for customer experience improvement; key loyalty metric NPS - the indicator
must be at least 7, it determines brand/product/service loyalty and influences repeat purchases; CES -
should be minimal for high customer satisfaction; CLV - is important to predict net income for each client;
ROI - a key indicator for evaluating the effectiveness of investments and innovations and ROMI -
assessment of the profitability of advertising campaigns and investments in marketing activities.

To monitor online actions and reactions (85% of external marketing communications) - use digital metrics
(demonstrated by RACE model):

- Reach: Open Rate / Click-To-Open Rate / Unsubscribe Rate / Reach / Views / CPM / CPV / CPC /
Share of new visitors / CTA / Traffic - adjust the types of communication when indicators fall, keep track
of the budget vs reach ratio.
- Act: Share Of Conversation (Voice) / Clicks / registrations on the site / Email Subscriptions / TSS (Time
Spent on Site), PPV (Pages Per Visit), Bounce Rate / Retention / Sessions / Social Reach / A/B Tests -
if the results fall, revise the offers, optimize the site, change the types of mailings.
- Convert: CRR / Purchase Frequency / Repeat Purchase Rate / Cost Per Sale / CTR / Conversion Rate
- when falling, conduct research, customer surveys, price analysis of competitors.
- Engage: Customer Acquisition / LTV / Engagement Rate / Returning Customers / Customer Turnover
rate - if аalls, then analyze in detail advertising channels and their effectiveness, analyze work with
clients to identify shortcomings, conduct a customer survey to improve the service or product, optimize
conversion, identify unprofitable buyers and product groups

 Marketing & Digital Strategy (2210), Assessment session - April 2022

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