Measuring Marketing Effectiveness

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;

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.

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

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.

Formative

Formative assessment description

Summative

Summative assessment description

Referral

Referral assessment description

Repeat

Repeat assessment description