Application OF Q²
The report provided by Q2 identifies areas where the marketing programme has achieved or surpassed benchmark ratings; it also discusses potential weaknesses.
Q2 has potential application in:
- Improving marketing effectiveness
- Increasing the rating of a commercialisation programme by 0.5 could increase the peak year sales of a blockbuster drug by $1 billion
- Improving resource utilisation
- Identifying inappropriate investment to greatly improve efficiency
- Budget application support
- Benchmark investment figures provide an objective measure for budget application; above-benchmark qualitative programmes can more easily claim extra budget
- Standardising marketing excellence throughout an organisation
- Directly compare the output of brand teams within an organisation
- Indicating an effective launch strategy to analysts without revealing strategy details to competitors
- Annual pre-budget review
- Management reporting
- Creating a de facto archive of key stage decision making