Please enable JavaScript.
Coggle requires JavaScript to display documents.
CHAP 1: INTRODUCTION TO MARKETING ANALYTICS - Coggle Diagram
CHAP 1: INTRODUCTION TO MARKETING ANALYTICS
Meaning
Measure and analyze data & metrics to understand the impact of marketing activities
Track & collect data across multiple marketing channels and consolidate it into a single view
Characteristics
Data driven
Portray customer insights & trends
Facilitate marketing decision marketing
Provide a picture of marketing efforts
Require experts to be done properly
Advantages
Understand customer and market trend
Easily depict the programs/ campaigns
Allow monitoring of trends
Understand target audience
Understand where the competitors are investing their efforts
How well marketing campaigns are performing
Monitor current trends and assess future trends
Decide future course of action
Marketing sizing
The measurement of market potential in terms of customers and revenue it can generate for a business
Top down
simple, unreliable and overly opstimistic
Bottom up
Define your target market
Use market research to assess interest in your product
Calculate potential sales