Measuring Marketing Effectiveness

Module overview

In the contemporary business environment, the expectation for marketers to routinely and regularly track their / their department’s performance has evolved from a niche-to-necessary function. Given that the modern marketers toolkit needs to be extensive, so should the range of metrics that are used to measure the fruits of this labour. This involves far more than simply extracting simple metrics from electronic tools and platforms. Indeed, this module introduces the plethora of key marketing metrics that can be used for evaluating marketing effectiveness, discusses the sources of such data, and offers students the necessary critical evaluation skills and frameworks to develop a system of metrics that captures this information in a marketing performance measurement (MPM) system.

Aims and Objectives

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

the various marketing metrics available to marketers in different areas of activity;
how to calculate specific marketing metrics;
how to critically appraise and then select appropriate metrics for both specific and routine measurement of marketing performance.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

design and develop company-specific Marketing Performance Management systems (also referred to as marketing dashboards);
communicate complex marketing analyses in an effective manner for specialist marketing and lay audiences using written methods.

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

perform calculations/analyses of marketing performance/effectiveness;
evaluate and critically appraise the outcomes of marketing metrics.

Learning and Teaching

Teaching and learning methods

You will learn through lectures and self-study. Lectures typically comprise of theoretical/managerial content, in-depth discussions about relevant topics, practical exercises for calculating key metrics, and mini-case studies.

Study time
Type	Hours
Revision	12
Completion of assessment task	92
Teaching	34
Follow-up work	12
Total study time	150

Resources & Reading list

Journal Articles

Journal of Marketing .

International Journal of Research in Marketing .

Journal of Marketing Research .

Journal of Consumer Research .

Harvard Business Review.

MIT Sloan Management Review .

Textbooks

Ambler, T. (2003). Marketing and the bottom line: The marketing metrics to pump up cash flow, 2nd ed. Pearson Education.

Pauwels, K. (2014). It’s not the size of the data It's How You Use It: Smarter Marketing with Analytics and Dashboards. Amacom.

Bendle, N.T., Farris, P.W., Pfeifer, P.E., & Reibstein, D.J. (2017). Marketing metrics: 50+ Metrics Every Executive Should Master, 2nd Edition. Pearson.

Assessment

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Coursework

Assessment Type: Formative
Feedback: Verbal feedback is provided through in-class activities. Tutorials are also designed in a way that provides students understanding about their progress and how they can improve. Finally, students can receive feedback during the module leader’s office hours.
Final Assessment: No
Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Breakdown
Method	Percentage contribution
Project	80%
Multiple choice Test	20%

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Breakdown
Method	Percentage contribution
Project	100%

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Breakdown
Method	Percentage contribution
Project	100%

Repeat Information

Repeat type: Internal & External