Prepared for: Ian Russell
Prepared by: Thi Thuy Tram LE
Swinburne University of Technology
Table of Contents
3.MARKETING METRICS MEANINGS4
4.MARKETING EFFECTIVENESS BY WAY OF METRICS5
5.MARKETING METRICS PERFORMANCE6
6.THE FUTURE OF MARKETING AND MARKETING METRICS7
Marketing is at the crossroads. Just a few decades ago marketing occupied the strategic high ground in many organisations. Today, it is a much different story as marketing departments are often expected to play just a service role rather than being at the forefront of organisational decision making. Marketing is the way we encourage people to buy our products. So, it is needs to be a strategy or idea to whet peoples’ appetites for what we’re selling.
A fundamental problem for measuring marketing performance is defining and identifying both metrics and best practice. Operations marketing performance metrics refers to the management of marketing operations as a business in and into themselves. These analyses are helpful for the development of an understanding of the return on investment generated by the marketing.
2. MARKETING BACKGROUND
Marketing if traditionally the means, by which an organization communicated to, connects with and delivering value to satisfy the needs of a consumer. In the beginning of trading, Marketing was considered as the acts of promoting their products with main goal of increasing in sales. It is the process of building relationships with prospects and customer, so that you can profitably develop and promote products and services.
Companies cannot survive without marketing, because it is the way how they firm secures its key objectives, assessment discourages short-termism, accountable and market-oriented.
However, according to McDonald (2009), the marketing just doesn’t mean “good marketing”, or even “honest marketing” and is widely seen as “mismarketing”. McDonald have used an example in this journal, they advertise their products as good foods with the best service on many restaurants. They believe their restaurants are fun place for kids and families. Whereas, health issues including heart issues and obesity that are in cause of these burgers, is never said in their status.
In another hand, your objective should be to make it easier for people who are interested in what you have to offer to find you, and see the great content that you offer. The purpose of McDonald is showing the way to rescue the discipline from demise and some suggestion about how to improve marketing image. 3. MARKETING METRICS MEANINGS
According to Ambler, T (2000) a “metric” is a performance measures that top management should review. It is a measure that matters to the whole business. Metrics may be financial from the profit and loss account, from the market place, or from non-financial internal source. The organization will get profits on financial as well as non-financial in other good or bad marketing campaign.
The Marketing Metrics are used to selecting an appropriate tool; they will help to measuring the performance of all marketing activities. The organization will get profits on financial as well as non-financial in other good or bad marketing campaign. It provided a broad view for the marketers about whether their target customers have been reach or not, whether the marketing activities create profits or losses. 4. MARKETING EFFECTIVENESS BY WAY OF METRICS
Marketing metrics are statistical measurements by which companies judge the effectiveness of their individual marketing efforts. Companies have been set up clear lines of sight to the metrics that matter and then make sure that employee behaviour is aligned with those metrics can create enormous value growth....