The Importance of Marketing Metrics and Measurement Tools (2010)
Marketing Metrics and Measurement Tools Dissertation – In recent years, marketing measurement has been at the centre of interest of both academics and practitioners. The reason for these interest lies in the growing importance for marketing to be more accountable, in a pressing business environment. Lack of accountability has led the marketing function to lose credibility amongst firms and therefore budget and importance.
Many studies have been conducted on the creation of new measurement theories and on the theorisation of marketing metrics. However, only a few empirical researches have been conducted concerning the analysis of the current situation of marketing measurement and the perceptions that practitioners have of it. This research aims to explore UK companies concerning their current practices in marketing measurement. Furthermore, it investigates the perceptions that UK managers have regarding the importance of their measurement tools.
The research identifies a normative framework that comprises the three dimensions of marketing measurement, respectively: Marketing Productivity, Brand and Customer equity and Return on Marketing Investment. A web-based survey has been carried out among UK managers in order to test the normative framework.
The results show that UK companies are still deficient in many areas of marketing measurement, with large companies being more effective than medium and small ones. Moreover, the research determines that there are only a marginal number of companies that measure the shareholders’ added value created by marketing activity, proving that the majority of companies fail to connect marketing activity to strategic corporate goals.
Furthermore, the study detects that there are differences in perceptions between marketing and finance managers concerning the conception of their relationship and the overall importance of marketing. Among the metrics this study confirms that financial metrics are still considered to be the more important in measurement. However, it is also highlighted that despite the high frequency of the use of metrics their importance is seen as relatively low, demonstrating that measured conventional metrics are not perceived to be efficient tool in marketing measurement.
- 15,000 words – 106 pages in length
- Good use of literature
- Good in depth analysis
- Well written throughout
- Includes questionnaire
- Ideal for marketing and international business students
2: Literature Review
Brand and customer equity
Marketing and shareholders’ value
Conceptual framework of marketing measurement
3: Research Aim and Methods
Research aim and objectives
Research philosophy and methodology selection
Desk research and conceptual framework
4: Data Analysis and Results
Respondents’ profile and external validity
Brand and customer equity
Return on marketing investment
Importance of marketing metrics
Summary of the findings