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MKT Effectiveness: Metrics for Effective Strategic Marketing (Strategic…
MKT Effectiveness: Metrics for Effective Strategic Marketing
Marketing function
Challengue
Document how individual marketing activities measured by financial performance
Strategic management
MKT
Focused on
planning future activities to define potential customers and their neeeds, combining strengths with potential customer segments, long-time and useful relations between the Company and public
Uses segmenation, targeting or positioning
Typology of MS
PROSPECTOR, DEFENDER, ANALYSER
Participation
Operations
Global
Organizational
Marketing effectiveness
Components
Customer philosophy
Integrated mkt organization
Mkt info
Strategic orientation
Operational efficiency
Related to
Customer satisfaction
Competitive advantage
Marketing orientation
Mkt measures
Financial output measures.
Comparing mkt activities with the costs of implemented them
Non financial.assess outputs.
Ex. Market share, customer satisfaction, Brand equity
Input measures.
Analyses resource absorption
Multiple measures.
Macrodimensions of efficiency, affectiveness and adaptiveness
Mkt metrics
Results
External
Total number of customers; Customer satisfaction; Perceived quality; Loyalty.
Internal
Awareness of goals (vision); Appetite for learning; Number of initiatives in process
Financial expression
Fnancial
. Profit; Turnover; Marketing expenses; ROI, ROMI; EVA
Non financial
Customer satisfaction; Number of visitors; Loyalty
Market subjects
Customer metrics
Customer lifetime value; Customer retention; Share of wallet
Market
. Market share; Advertising rate; Losses towards competitors
Performance results
Mkt variables control