Evaluations - Week 7

So this week in lecture we talked about metrics to evaluate each team in Pharmasim. The five that I thought to be most important are:

1. Customer Satisfaction: We are always drilling in Marketing, the fact that the customer is the most important aspect. Their needs, desires, happiness etc.. comes first because ultimately they will be the ones buying your product(s).
2. Brand Awareness: I think that this proves how well you marketed your product. If it is high then you were able to spread the word and advertise about what you have to offer as well as help to gain more consumers.
3. Market Share: This is a great measure of competition. It will be able to show who dominates which market and by how much.
4. Gross Margin: This margin shows the percent total of sales that a company retains after cost of goods sold is retracted. This is important to see how much is actually being retained by the company which will only add to the success of the business.
5. Units sold: In the end, its all about how much you are selling. High sales=high profits and is a get measure of how well your business is doing. It is a very important factor in other margins as well.

I really wanted to put Brands Perception in here but couldn't get myself to put it on the list. It is a close #5 because I think that your image in the market is very important. At the same time, certain advantages from this measure can be seen in other aspects.