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
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;
- 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.
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;
- 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.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- understand the primary theory and be able to practice marketing metrics;
- 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.
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 | 126 |
Teaching | 24 |
Total study time | 150 |
Resources & Reading list
General Resources
International Journal of Research in Marketing.
Journal of Marketing.
MIT Sloan Management Review.
Journal of Consumer Research.
Journal of Marketing Research.
Textbooks
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.
Ambler, T. (2003). Marketing and the bottom line: The marketing metrics to pump up cash flow. Pearson Education.
McDonald, M., and Mouncey, P., Maklan, S (2014). Marketing Value Metrics: A New Metrics Model to Measure Marketing Effectiveness. London: Kogan Page.
Davis, J. A. (2013). Measuring Marketing : 101+ key metrics every marketer needs. Wiley & Sons.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
Project Individual commentsSummative
This is how we’ll formally assess what you have learned in this module.
Method | Percentage contribution |
---|---|
Project | 100% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
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.
Method | Percentage contribution |
---|---|
Project | 100% |