TITLE

The Right Side of Metrics

AUTHOR(S)
Wyner, Gordon A.
PUB. DATE
January 2004
SOURCE
Marketing Management;Jan/Feb2004, Vol. 13 Issue 1, p8
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article concerns issues about customer performance metrics in a firm, which provide the vehicle for determining how effective marketing is. At the practical level of implementing a metrics program, the choice depends on the character and nature of the business, availability of appropriate data, understanding what drives the metrics and how the results would be acted on and used. It is important that a company establish its strategic intent and develop metrics that determine progress against goals. Companies should ask themselves some basic questions: (1) What is distinctive about the industry?, (2) What is distinctive about the particular company?, (3) How big is the opportunity to be more effective?, (4) How would the company use metrics if it had them? and (5) What are the downsides to metrics?. The channel preferences of consumers have significant implications for revenue and profitability of the manufacturers given the differential cost and quality distribution. The upside potential of using metrics can be estimated by anticipating the size of gain that could be achieved it marketing capabilities were deployed more effectively. At the highest level, customer performance metrics can influence the way a company budgets and allocates its total marketing investment.
ACCESSION #
12123037

 

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