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Measuring Success (other measures of marketing success (Brand Equity…

- - - - Aided brand awareness
      - spontaneous brand awareness
      - evoked set
      - brand consumption
  - - - accuracy
      - bias
- - - - allows brand performance tracking and optimization
  - - - brand investments can be played long term
    - - performance may be attributed to other factors
- - - - total revenue less costs or ROI
      - limitations
        
        difficult to attribute directly to marketing activity i.e. could be due to the collapse of a competitor e.g
        
        ROI has short term focus
    - - Volume - # of units sold
      - Revenue - # of units x price
      - comparing revenue vs target - revenue less target revenue
      - limitations
        
        interpretations
        
        heavily discounted products may have high volume but low sales
    - - Price less cost
      - limitations
        
        does not reflect what customers want to pay
    - - brand recalls (brand recall without prompt)
      - brand recognition (knowing brand when prompted)
      - useful for determining effectiveness of marketing
      - does illustrate willingness to buy
    - - value relative to competitors - sales rev divided by total market rev
      - unit sales divided by total market unit sales
      - relation to largest competitor - brand m/s divided by lrg competitors m/s
    - - number of new products launched
      - no. of successful product launches
        
        doesn't show if sufficient number sold
      - sales revenue divided by total sales revenue
        
        advantage of narrowing down new product sales
    - - product price vs ave. price in product category or vs competitors price
      - limitation
        
        doesn't reflect what customer willing to pay
    - - no. of complaints
      - no. or proportion of customers lost
      - important to measure weaknesses so they can be addressed
    - - scaled
      - expectations or willingness to recommend the brand
        
        latter - net promoter score
      - important = core to marketing concept
    - - availability ratio
        
        no. outlets stocking the brand divided by the no. of outlets available
      - out of stock ratio
        
        no. of outlets stocking brand where its sold out divided by no. of outlets stocking the brand
      - important way to show availability/ unavailability
        
        need to ensure they do not lose sales through unavailable stock
- - - - impact on business
      - importance to stakeholders