Module overview
In the contemporary business environment, marketing accountability is constantly increasing in importance. Being able to measure marketing performance and demonstrate how effectively marketing is conducted in organisations has also become a source of performance differentials between companies. This module introduces and discusses key marketing metrics for evaluating marketing effectiveness, providing insights into managing marketing performance in organisations.
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- collect, analyse and place marketing metrics as an analysis tool in the wider context of the organisation;
- understand how to explore measures of marketing performance, return on investment and decision making.
- undertake complex marketing analysis as a measure of organisational performance;
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- how marketing metrics create opportunities, performance and accountability in marketing;
- how to choose the right metric and specific analysis skills for tactical marketing decision in an organisation.
- what is a marketing metric and available metrics to marketers;
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- understand how marketing metrics interfaces with measuring marketing performance, and how marketing metrics can be used strategically to maximize marketing investment;
- demonstrate effective written communication.
- understand the primary theory and be able to practice marketing metrics;
Syllabus
Marketing metrics as a basis for accountable marketing and marketing control.
Chain of marketing productivity and other relevant frameworks for measuring marketing effectiveness.
Key metrics and measurement systems for strategic decision-making:
- Financial metrics
- Return of marketing investment (ROMI)
- Share of hearts, minds and markets
- Product and portfolio management
- Customer profitability and customer lifetime value (CLV)
- Sales force and channel management
- Pricing strategy and price promotion management
- Advertising and online
Creating smart objectives, KPIs and measurement.
Current developments and examples from specific industries.
Developing a marketing measurement program/ marketing dashboard for a firm.
Learning and Teaching
Teaching and learning methods
Learning activities include:
- Use of video and online materials
- Case study / problem solving activities
- Private study / reading
- Assessment preparation and delivery
Type | Hours |
---|---|
Independent Study | 63 |
Teaching | 12 |
Total study time | 75 |
Resources & Reading list
General Resources
International Journal of Research in Marketing.
MIT Sloan Management Review.
Journal of Marketing.
Journal of Consumer Research.
Journal of Marketing Research.
Textbooks
Davis, J. A. (2013). Measuring Marketing : 101+ key metrics every marketer needs. Wiley & Sons.
Koen Pauwels (2014). It's Not the Size of the Data - It's How You Use It. AMACOM.
Ambler, T. (2003). Marketing and the bottom line: The marketing metrics to pump up cash flow. Pearson Education.
Bendle, N.T., Farris, P.W., Pfeifer, P.E., & Reibstein, D.J.. Key Marketing Metrics: The 50+ Metrics Every Manager Needs to Know. Second Edition. FT Publishing. Pearson Education.
McDonald, M., and Mouncey, P., Maklan, S (2014). Marketing Value Metrics: A New Metrics Model to Measure Marketing Effectiveness. London: Kogan Page.
Assessment
Formative
Formative assessment description
Individual commentsSummative
Summative assessment description
Method | Percentage contribution |
---|---|
Project | 100% |
Referral
Referral assessment description
Method | Percentage contribution |
---|---|
Project | 100% |
Repeat
Repeat assessment description
Method | Percentage contribution |
---|---|
Project | 100% |