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Marketing Metrics

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Identify at least 2 companies that have faced specific issues related to selecting marketing metrics and how they solved their issue.

Marketing metrics to include designing control systems step by step in regards to obtaining feedback data and evaluating feedback data and taking action, designing decisions for strategic control systems, and designing decisions for marketing performance measurement and marketing audit issues

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The response address the queries posted in 888 words with references.

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The response address the queries posted in 888 words with references.
//Before writing about the Specific Issues related to the selection of Marketing Metrics, it is essential to know about the concept of 'Marketing Metric'. One should know about the various components of marketing metrics, which further will assist in analyzing the process mapping in an effective manner.//

Marketing Metrics

Introduction

Marketing metrics is a type of measurement, which is used to find out the level of success or failure of a company in its business operations. 'Marketing' is one of the main pillars of any successful company and interestingly, it is the most difficult function to manage. Determining the cost of a marketing plan is easy for a company, but selecting the one that will work and to determine how well it worked, are both very hard. The corporations can get an idea about all these factors with the help of marketing metrics.

Marketing metrics are quantitative values, which can be attached with the company's market reports and products. It helps a company in finding out how its products are performing in the target markets. Following are the various marketing metrics, which can be employed to assess the performance of a firm:

Market Penetration

Market Share

Market Size

Customer Service

Customer Satisfaction

Process Mapping

These metrics can be employed by a company to measure the effectiveness of its different ad campaigns. Marketing Metrics offer necessary data to the companies, so that they can implement a successful 'Customer ...

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Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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