Measuring Marketing Effectiveness

Learning Outcomes

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;

Knowledge and Understanding

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

• what is a marketing metric and available metrics to marketers;
• how to choose the right metric and specific analysis skills for tactical marketing decision in an organisation.
• how marketing metrics create opportunities, performance and accountability in marketing;

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• undertake complex marketing analysis as a measure of organisational performance;
• understand how to explore measures of marketing performance, return on investment and decision making.
• collect, analyse and place marketing metrics as an analysis tool in the wider context of the organisation;

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

Journal of Consumer Research.

Journal of Marketing Research.

International Journal of Research in Marketing.

Journal of Marketing.

MIT Sloan Management Review.

Textbooks

McDonald, M., and Mouncey, P., Maklan, S (2014). Marketing Value Metrics: A New Metrics Model to Measure Marketing Effectiveness. London: Kogan Page.

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

Koen Pauwels (2014). It's Not the Size of the Data - It's How You Use It. AMACOM.

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.

Davis, J. A. (2013). Measuring Marketing : 101+ key metrics every marketer needs. Wiley & Sons.

Formative

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

Summative

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

Referral

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

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.