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Marketing Metrics: 50+ Metrics Every Executive Should Master Hardcover – April 28, 2006

ISBN-13: 978-0131873704 ISBN-10: 0131873709 Edition: 1st
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Editorial Reviews


"In a category that suffers from a surfeit of books related to personal experiences, one-off success stories made possible by budgets and resources unavailable to most firms, outdated theories as quaint as bloodletting, or mantras devoted to 'big ideas' or 'exceeding expectations,' 50+ metrics crackles like new money. For CEOs and those in marketing trenches needing accountability, this is the best marketing book of the year." -- Nick Wreden, Strategy + Business

From the Back Cover

Few marketers recognize the extraordinary range of metrics now available for evaluating their strategies and tactics. In Marketing Metrics, four leading researchers and consultants systematically introduce today's most powerful marketing metrics.  The authors show how to use a "dashboard" of metrics to view market dynamics from various perspectives, maximize accuracy, and "triangulate" to optimal solutions. Their comprehensive coverage includes measurements of promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and profits; products and portfolios; customer profitability; sales forces and channels; pricing strategies; and more.  You'll learn how and when to apply each metric, and understand tradeoffs and nuances that are critical to using them successfully. The authors also demonstrate how to use marketing metrics as leading indicators, identifying crucial new opportunities and challenges. For clarity and simplicity all calculations can be performed by hand, or with basic spreadsheet techniques. In coming years, few marketers will rise to senior executive levels without deep fluency in marketing metrics. This book is the fastest, easiest way to gain that fluency.


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Product Details

  • Hardcover: 384 pages
  • Publisher: Pearson Prentice Hall; 1 edition (April 28, 2006)
  • Language: English
  • ISBN-10: 0131873709
  • ISBN-13: 978-0131873704
  • Product Dimensions: 7.4 x 1.2 x 9.6 inches
  • Shipping Weight: 2 pounds
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (36 customer reviews)
  • Amazon Best Sellers Rank: #281,210 in Books (See Top 100 in Books)

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Customer Reviews

4.6 out of 5 stars
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Most Helpful Customer Reviews

Format: Hardcover
Obviously, it is highly desirable to measure what matters and that is especially true of marketing initiatives. Here's the challenge which many (most?) readers will face after they finish reading this volume: Which metrics are the most appropriate for their specific organization? Co-authors Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, and David J. Reibstein offer 50+ and in an ideal business world, every executive can - and will - master all of them. That is possible but highly unlikely. Fortunately, the authors offer a wealth of information and observations that can guide and inform the selection of those metrics that will enable executives to "gather and analyze basic market data, measure the core factors that drive their business models, analyze the profitability of individual customer accounts, and optimize resource allocation among increasingly fragmented media.

To the authors' substantial credit, they make effective use of a number of reader-friendly devices which enliven what would be an otherwise dull textbook and they do without compromising the integrity of research-driven insights which so many books on marketing lack. These devices include definitions, formulas, and brief descriptions of various metrics. They also include within individual chapters several sections, such as "Construction" (e.g. metrics issues concerning their formulation, application, interpretation, and strategic ramifications), "Data Sources, "Complications, and Cautions" (i.e. an analysis of the limitations of the metrics under consideration, and their potential inadequacies once executed), and "Related Metrics and Concepts" (briefly surveyed). This is by no means an "easy read" but will generously reward those who absorb and digest its material with appropriate rigor.
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Format: Hardcover
Personally, I love these kinds of handbooks. Having a ready resource for these dozens of metrics can help any executive understand their business and think about ways to compete in the marketplace in new ways. Too often marketing is thought of in terms of advertising and sales, but it is so much more than that. Marketing is everything your company does or needs to do to choosing a marketplace, the products to compete with, how to promote and sell them, and how to better understand your market, your competition, and how it is changing over time.

This excellent book has eleven chapters. The first provides an introduction to the book, its layout and purpose. The last chapter takes you through what the authors call the marketing x-ray. It explains the practical aspects of the ratios provided and how they can reveal things about apparently healthy companies that can help you make changes before it is too late, just as an x-ray can alert you to a health problem before things become dire.

The other nine chapters take the reader through various business ratios for measuring your share of the hears, minds, and markets of your customers, margins and profits, product and portfolio management, customer profitability, sales force and channel management, pricing strategy, promotion, advertising media and web metrics, and marketing and finance.

What is good about working through these metrics is that you will be asking yourself questions that you need to ask. Even if the metric doesn't apply to your specific situation, finding out that it doesn't will help you think more clearly about your situation. You may find that some of them will help you think through things that are important to your business with a new perspective.
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Format: Hardcover
A metric is a form of measurement, which can be used to determine the level of success or failure. However, in anything more complex than the counting of points, it is possible to measure more than one thing and often more than one interpretation is possible. Therefore, when choosing to create and use any type of measuring tool, you not only must select the right one, know how to use it, how much to use it you also must understand how to interpret the results. Embedded in this is also the sometimes even more important adage of knowing when not to use a measuring tool.

Marketing is one of the main pillars of any successful company, yet is often the most difficult one to manage. Determining the cost of a marketing plan is easy, but selecting one that will work and determining how well it worked are both very hard. So hard that many companies really have little idea how well they are doing in these areas.

This book will help you solve all that, as the title suggests, many different ways in which marketing effectiveness can be measured are given. They are split into the following categories:

*) Share of hearts and minds

*) Margins and profits

*) Product and portfolio management

*) Customer profitability

*) Sales force and channel management

*) Pricing strategy

*) Promotion

*) Advertising media and web metrics

*) Marketing and finance

*) The marketing metrics x-ray

This is not a book where the author(s) simply spout theoretical jargon, quantitative terms and formulas are used everywhere. Furthermore, the terms are explained in great detail and in terminology that can be understood by anyone with the intelligence to be in management.
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