Christian Dior, a powerhouse in the luxury goods industry, operates under the ambitious overarching goals of Innovation, Internationalization, and Aggressive Communication. To effectively measure the success of initiatives designed to achieve these goals, a robust evaluation plan is crucial. This plan, focusing on the marketing initiatives undertaken in 2020 and beyond, will leverage data from various sources, including Dior financial statements, Christian Dior annual reports, and other relevant financial data such as the Dior finance annual report 2023 and its relationship to its parent company, Christian Dior LVMH. This comprehensive evaluation will provide invaluable insights into the effectiveness of the marketing strategies and inform future planning.
I. Goals and Objectives:
The overarching goals of Innovation, Internationalization, and Aggressive Communication translate into specific, measurable, achievable, relevant, and time-bound (SMART) objectives for the marketing team. These objectives will form the foundation of our evaluation framework. Examples include:
* Innovation:
* Objective 1: Launch at least three new product lines within the year, each incorporating innovative materials or technologies. Success will be measured by sales figures, consumer feedback (through surveys and social media monitoring), and market share gains compared to competitors.
* Objective 2: Increase the percentage of sales derived from innovative products by 15% compared to the previous year. This will be tracked through sales data categorized by product line and innovation level.
* Objective 3: Achieve a minimum average customer satisfaction score of 4.5 out of 5 (based on post-purchase surveys) for innovative product lines.
* Internationalization:
* Objective 1: Expand into three new key markets (specify target markets) with a successful launch campaign resulting in a positive ROI within the first six months. Success will be measured by sales figures in these new markets, brand awareness surveys, and marketing campaign ROI.
* Objective 2: Increase international sales by 20% compared to the previous year. This will be tracked by analyzing sales data segmented by geographic region.
* Objective 3: Establish strategic partnerships with at least two key distributors in each new target market, ensuring efficient product distribution and brand representation. This will be assessed based on the successful establishment and performance of these partnerships.
* Aggressive Communication:
* Objective 1: Increase brand awareness by 10% in target markets, measured through brand tracking studies and social media engagement metrics.
* Objective 2: Achieve a 15% increase in website traffic and social media engagement (likes, shares, comments) compared to the previous year. This will be directly tracked through website analytics and social media platform insights.
* Objective 3: Secure positive media coverage in at least 50% of targeted publications, focusing on key product launches and brand initiatives. This will be monitored by tracking media mentions and sentiment analysis.
II. Data Sources and Metrics:
The evaluation plan will draw upon a variety of data sources to provide a comprehensive assessment of marketing performance. These include:
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