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Marketing Metrics: The Definitive Guide to Measuring Marketing Performance (2nd Edition) Hardcover – February 13, 2010

ISBN-13: 978-0137058297 ISBN-10: 0137058292 Edition: 2nd

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Product Details

  • Hardcover: 432 pages
  • Publisher: Pearson FT Press; 2 edition (February 13, 2010)
  • Language: English
  • ISBN-10: 0137058292
  • ISBN-13: 978-0137058297
  • Product Dimensions: 7.4 x 1.3 x 9.2 inches
  • Shipping Weight: 1.8 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (33 customer reviews)
  • Amazon Best Sellers Rank: #54,052 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

The Definitive Guide to theNewState-of-the-Art in Marketing Metrics

 

Marketing Metrics, Second Edition, is the definitive guide to today's most valuable marketing metrics. In this thoroughly updated and significantly expanded book, four leading marketing researchers show exactly how to choose the right metrics for every challenge.

 

The authors show how to use marketing dashboards to view market dynamics from multiple perspectives, maximize accuracy, and “triangulate to optimal solutions. You'll discover high-value metrics for virtually every facet of marketing: promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and pricing; products and portfolios; customer profitability; sales forces and channels; and more.

This edition introduces essential new metrics ranging from Net Promoter to social media and brand equity measurement. Last, but not least, it shows how to build comprehensive models to support planning--and optimize every marketing decision you make.

 

Choose the right metric for every marketing challenge

Understand the full spectrum of marketing metrics: pros, cons, nuances, and application

 

Gain a deep and thorough understanding of marketing profitability

Quantify the profitability of products, customers, channels, and marketing initiatives

 

Assess web and social media effectiveness, accurately and in detail

Measure everything from “bounce rates to the growth of your web communities

 

Link marketing to your enterprise financial metrics

Understand your true return on marketing investment--and enhance it

 

This award-winning book will show you how to apply the right metrics to all your marketing investments, get accurate answers, and use them to systematically improve ROI.

 

You'll find practical, up-to-the-minute techniques for measuring everything from brand equity to social media, market share to web engagement. For every metric, the authors present real-world pros, cons, and tradeoffs--and help you understand what the numbers really mean. You'll learn how to design and interpret marketing dashboards to identify emerging opportunities and risks and use powerful new modeling techniques to optimize every decision you make. In this second edition the authors expand their treatment of social marketing, web metrics, and brand equity. They also give readers new systems for organizing marketing metrics into models and dashboards that translate numbers into management insight.

 

•  Strategy + Business “Best Books in Marketing award winner—now fully updated!

•  30% more coverage: from social media and brand equity to modeling for better decision-making

•  Covers promotions, advertising, distribution, customer perception, market share, pricing, margins, portfolios, channels, dashboards, and much more

 

About the Author

Paul W. Farris is Landmark Communications Professor and Professor of Marketing at The Darden Graduate Business School, University of Virginia, where he has taught since 1980. Professor Farris’s research has produced award-winning articles on retail power and the measurement of advertising effects. He has published more than 50 articles in journals such as the Harvard Business Review, Journal of Marketing, Journal of Advertising Research, and Marketing Science. He is currently developing improved techniques for integrating marketing and financial metrics and is coauthor of several books, including The Profit Impact of Marketing Strategy Project: Retrospect and Prospects. Farris’s consulting clients have ranged from Apple and IBM to Procter & Gamble and Unilever. He has served on boards of manufacturers, retailers, and e-Business companies. Currently, he is a director of GSI Group, Sto Corp., and The Ohio Art Company.

 

Neil T. Bendle is a Ph.D. candidate in marketing at the Carlson School of Management, University of Minnesota. While studying for his Ph.D. he has won awards for his teaching, and his thesis has focused on managers’ difficulties in understanding consumer tastes. He holds an MBA from Darden and has nearly a decade’s experience in marketing management, consulting, business systems improvement, and financial management. He was responsible for measuring the success of marketing campaigns for the British Labour Party.

 

Phillip E. Pfeifer, Richard S. Reynolds Professor of Business Administration at The Darden Graduate Business School, currently specializes in direct/interactive marketing. He has published a popular MBA textbook and more than 35 refereed articles in journals such as the Journal of Interactive Marketing, Journal of Database Marketing, Decision Sciences, and the Journal of Forecasting. In addition to academic articles and a textbook, Mr. Pfeifer is a prolific case writer, having been recognized in 2004 as the Darden School’s faculty leader in terms of external case sales, and in 2008 with a Wachovia Award for Distinguished Case writer. His teaching has won student awards and has been recognized in Business Week’s Guide to the Best Business Schools. Recent consulting clients include Circuit City, Procter & Gamble, and CarMax.

 

David J. Reibstein is Managing Director of CMO Partners and William Stewart Woodside Professor of Marketing at the Wharton School. Regarded as one of the world’s leading authorities on marketing, he served as Executive Director of the Marketing Sciences Institute, and co-founded Wharton’s CMO Summit, which brings together leading CMOs to address their most pressing challenges. Reibstein architected and teaches the Wharton Executive Education course on marketing metrics. He has an extensive track record consulting with leading businesses, including GE, AT&T Wireless, Shell Oil, HP, Novartis, Johnson & Johnson, Merck, and Major League Baseball. He has served as Vice Dean and Director of Wharton’s Graduate Division, as visiting professor at Stanford and INSEAD, and as faculty member at Harvard. He serves on the Board of Directors of Shopzilla, And1, and several other organizations.

 

Customer Reviews

Very detailed, well written and helpful.
Craig Cunningham
This book provides insightful frameworks into how intelligent metrics are mathematically constructed, along with discussing their assumptions and limitations.
V. K. Lee
In short, this book is a must-have reference for every marketing manager.
Marian B. Wood

Most Helpful Customer Reviews

17 of 17 people found the following review helpful By V. K. Lee on October 4, 2010
Format: Hardcover Verified Purchase
I'm a career marketing executive with 13 years of experience currently working as a Director of Marketing and Analytics for a VC-backed firm. This book is invaluable to me at our firm as we take a deep dive into our own data and attempt to build custom metrics and KPIs. This book provides insightful frameworks into how intelligent metrics are mathematically constructed, along with discussing their assumptions and limitations.

The writing is succinct, and the organization of this book appeals to one's intelligence and time. You don't have to read this book cover to cover! The table of contents in such a wonderful and simple fashion breaks down the book into the major subcategories of Marketing, such as Product and Portfolio Development. Each chapter first outlines and summaries major relevant metrics, and then discusses each in detail complete with theorems, assumptions, considerations, and weaknesses.

Every intelligent, ambitious, and professional executive must own this book. It gives you a rare balance of academic and practical rigor. If you don't see metrics that can help your business, then you can borrow its notions into how some of the most influential KPIs are constructed and then use those frameworks to exploit your own intelligence issues.

This is a great reference book, and it has a special place on my bookshelf at work. You don't have to be an academic to understand this book. If you are patient with this book, you will see what a gem this is. 5 stars.

Disclosure: I am neither a student, nor do I know any of the authors of this book.
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17 of 19 people found the following review helpful By Tezza on January 22, 2011
Format: Hardcover Verified Purchase
The book is both an overview and a detailed discussion of every marketing metric you'd ever want to know.

I had studied some of the concepts in a business school course and throughout reading various literature, however it's nice to have the information all in one spot like a handy reference.

Unfortunately the metrics don't apply well to new media - for instance there is only one metric for social networking.

Probably a good follow on to this book would be the impact on smart phone apps, social networking, etc. etc. and relevant marking metrics.

I gave it four stars because I think it's an excellent compendium but I wouldn't say the earth moved for me as a result of reading it.
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5 of 5 people found the following review helpful By Midwest Book Review on April 17, 2010
Format: Hardcover
Objectivity is something hard to find, even in numbers. "Marketing Metrics: The Definitive Guide to Measuring Marketing Performance" is a guide to understanding the many measures of success in today's world and how to cut through spins and other word plays to best understand the real facts and numbers of business. It covers how to use these numbers to revise one's business strategy to meet these numbers, and the new and updated edition offers more facts and references to use in formulating one's own marketing plan. "Marketing Metrics" is a reference any marketer should have on hand.
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3 of 3 people found the following review helpful By Marian B. Wood on February 4, 2012
Format: Hardcover
You can't manage it if you can't measure it--and this authoritative book details metrics for every aspect of marketing, from profit margins and product portfolios to pricing, promotion, and the Web. Although I was a fan of the 1st edition, the 2nd edition is even more useful because it covers standard metrics for online communications. Especially strong: The chapter on pricing strategy, which explains a variety of calculations and measures for making good pricing decisions. In short, this book is a must-have reference for every marketing manager.
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3 of 3 people found the following review helpful By steop22 on April 28, 2012
Format: Hardcover Verified Purchase
Selected this book as required textbook for the course "Financial Analysis for Marketing Decisions".
Johns Hopkins Carey School of Business, Graduate MBA Program.
Adjunct Faculty
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2 of 2 people found the following review helpful By J. Gregory on April 27, 2013
Format: Hardcover Verified Purchase
If measurement and marketing metics are important to you then this book is a must have. Paul Farris is sharing his thinking about the coming revolution in marketing -- it will all be about accountability.
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2 of 2 people found the following review helpful By John M on February 6, 2013
Format: Hardcover Verified Purchase
Great reference. This book has every formula and metric you would ever need to analyze marketing efforts. This book is my bachelor's degree in marking management in one reference book.
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1 of 1 people found the following review helpful By Raj Venkatesan on April 7, 2013
Format: Hardcover
I am a professor of marketing and work in the realm of marketing analytics and ROI. Prior to marketing metrics the world of marketing was more like the wild west. There was no clear agreement on the different marketing terms and it was easy to come up with a metric of choice to make one's initiative look profitable. Marketing metrics biggest contribution is to bring order to this chaos. This book presents a set of metrics that are essential for measuring marketing performance. Managers have a standardized method to evaluate the success or failure of their initiatives. More importantly continuous measurement on the same metrics allows the managers to develop their benchmarks and also compare across marketing initiatives. The book provides the common language for marketers to understand each other and also communicate themselves better to others in the firm.

Beyond the premise and the content, the book is easy to read and intuitive. The metrics are organized in a sensible manner and the rationale for each metric allows readers to choose the metric that best fits their needs. I would consider this book as an essential reference for anyone practicing marketing.
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Marketing Metrics: The Definitive Guide to Measuring Marketing Performance (2nd Edition)
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