Improving marketing cost-effectiveness a study of Medtronic Company in Ho Chi Minh City - Vietnam

Abstract

Recently, the profit and loss of Medtronic has experienced a decrease versus its target. This circumstance is mostly impacted by increased number and amount of marketing activites. The main problems belong to the low efficiency of current marketing activities, reflecting through the low number of customer coverage while the spent marketing budget exceed it limit. In order to discover the issue that Medtronic facing with, meeting with two sales managers of the Business Unit as well as relevant sales representative has been implemented Through interviewing relevent subjest, using data provided by the company and using related theory, main problem was identified as low-cost effectiveness of marketing activities. Towards main problem, three potential causes have been found are Lack or Low frequency of following up activities, Low competencies of sales team in order to cascade the impacts of the marketing events or Focus on wrong types of promotion activities. After analysis, main cause that chosen to solve is Focus on wrong types of promotion activities. This study will focus on solutions to address the cause in order to help the company to improve their Profits and Loss.