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Benchmarking Basics for Integrated Market Strategy

The Woodland Foundation Board of Directors approved your draft proposal for an integrated market strategy. However, they are not familiar with benchmarking and monitoring the media mix and how that information will be used.

Write an advisory bulletin that defines benchmarking basics, lists monitoring techniques, and describes how the results are used to manage an integrated marketing plan. Include recommendations for why each technique would be appropriate to use in the WF integrated marketing strategy.

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The response address the queries posted in 526 words with references.
//As per the directions, we will write about the basics of benchmarking and monitoring techniques. This paper will assist you in understanding the importance of the basics of benchmarking and the use of monitoring techniques for the integrated market strategy of the company.//

Benchmarking is the set of standards that are used to measure the performance of a company with another company. Benchmarking is set on the following basics -

? Specification - Specification basic of the benchmarking provides details about the integrated market strategy. It also explains the goals to design the market strategy of the company. The use of benchmarking in the integrated market strategy of Woodland Foundation will help to know the correct design of the integrated market strategy. Well defined goals also play an important role for effective benchmarking.

? Control logic - The control logic helps to achieve the repeatability and accurate statistics. Repeatability is necessary for the effective benchmarking. The repetition in the result from the benchmarking makes the result reliable. Accurate statistics also helps to make data more reliable for ...

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This response addresses the queries posed in 526 Words, APA References