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Applied Managerial Marketing Metrics

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Details: Now that GGI has decided to implement your marketing plan, the management team wants to know how they can measure efforts listed in your marketing plan. Marketing metrics are usually used to determine effectiveness of marketing efforts. If you can demonstrate to GGI that your strategy and techniques had positive, tangible results, you will likely have their business for the long term.

This following article contains success stories of companies using marketing metrics to measure marketing results and may be useful to you:

Marketing Metrics: Where to get them? Which ones work?
(http://www.ad-mkt-review.com/public_html/docs/fs059.html)

List the major recommendations in your team's marketing plan.
Identify some key marketing metrics for your team's marketing plan and how each metric can be applied to a recommendation made in your marketing plan.
Provide recommendations for how GGI might improve upon that particular metric.
Describe which of the metrics should be considered most important to GGI at this stage and why.

Some marketing metrics concepts include but are not limited to: Advertising and Direct Mail response rates, CRM (Customer Relationship Management) activity, wallet share, market share, Return on Investment (ROI), and so on.

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List the major recommendations in your team's marketing plan.
1. The company should establish relationship with at least one major national chain during the next one year.
2. The company should have at least 20% of its sales through its website during the course of one year.
3. The company should improve its relationship with its supplier so that the sales process and the import of goods is synchronized and the cost of inventory goes down.
4. The company should establish relationships with key marketers in the online business and achieve and increase in sales.
5. The company should allocate its budget for the year in such a manner that most of the goals of the company are achieved.
6. The responsibilities for different tasks should be allocated carefully so that the persons responsible for the different tasks are identified.
7. The plan will be used to monitor the progress of the plan and steps will be taken to control the implementation of the plan.

Identify some key marketing ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
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