Marketing Decision Analysis Paper

MARKETING DECISION ANALYSIS
HBM226N
MARKETING METRICS

Prepared for: Ian Russell
Prepared by: Thi Thuy Tram LE
7018673

Date: 10/04/2013
Swinburne University of Technology
Table of Contents 1. INTRODUCTION 3 2. MARKETING BACKGROUND 4 3. MARKETING METRICS MEANINGS 4 4. MARKETING EFFECTIVENESS BY WAY OF METRICS 5 5. MARKETING METRICS PERFORMANCE 6 6. THE FUTURE OF MARKETING AND MARKETING METRICS 7 7. CONCLUSION 7 8. REFERENCE 8

1. INTRODUCTION Marketing is at the crossroads. Just a few decades ago marketing occupied the strategic high ground in many organisations. Today, it is a much different story as marketing departments are often expected to play just a service role rather than being at the forefront
MARKETING METRICS MEANINGS According to Ambler, T (2000) a “metric” is a performance measures that top management should review. It is a measure that matters to the whole business. Metrics may be financial from the profit and loss account, from the market place, or from non-financial internal source. The organization will get profits on financial as well as non-financial in other good or bad marketing campaign. The Marketing Metrics are used to selecting an appropriate tool; they will help to measuring the performance of all marketing activities. The organization will get profits on financial as well as non-financial in other good or bad marketing campaign. It provided a broad view for the marketers about whether their target customers have been reach or not, whether the marketing activities create profits or losses. 4. MARKETING EFFECTIVENESS BY WAY OF METRICS Marketing metrics are statistical measurements by which companies judge the effectiveness of their individual marketing efforts. Companies have been set up clear lines of sight to the metrics that matter and then make sure that employee behaviour is aligned with those metrics can create enormous value
This figure show how these categories of metrics link together. Marketing metrics help your business to understand more and successes more of the marketing and advertising, as well as business. Using marketing metrics performance, you can measure the value and be able to contribution to create budgets, allocate resources and make the decisions for the future marketing campaign. Because it is providing business opportunity to see where they are, how value they are and how role they are to be effort. Marketing metrics can be applied to move the measurement of marketing forward (Patterson, L., 2007, p. 270). One way of displaying the performance measurements is with a dashboard. The dashboard is where all data and metrics are collated and presented as useful information for the organization. Dashboard can provide a way to visually monitor you metrics and provide you with a feedback system to track progress and connect marketing to business outcomes (Patterson, L., 2007, p. 274). 6. THE FUTURE OF MARKETING AND MARKETING