StudentShare solutions
Triangle menu
  • Home
  • Subjects
  • Marketing
  • Design a Marketing Metrics system for a commercial organisation of the group's choice

Design a Marketing Metrics system for a commercial organisation of the group's choice - Essay Example

Not dowloaded yet

Extract of sample
Design a Marketing Metrics system for a commercial organisation of the group's choice

The authors have aptly summarized the difference between yesteryears and the current day marketing where it has become a science rather than an art. Art and skills are definitely required but the scientific factor is a much needed factor. Here comes the metrics portion of the marketing activity. “A metric is a measuring system that quantifies a trend, dynamic, or characteristic. In virtually all disciplines, practitioners use metrics to explain phenomena, diagnose causes, share findings, and project the results of future events” (Farris et al., 2006). The executive summary gives a comprehensive and compact picture of the importance of Marketing Metrics in today’s business world. If the marketers are unable to quantify their projections they would not even know what they are looking forward and then all planning and marketing activity becomes vague. By quantifying it is meant that marketing requires numbers like percentage of customers requiring their products, judge the change in market conditions, explain customer habits and purchase trends. All the quantitative measures can be put in the form of metrics which will define the future course of marketing activity in an organization. This marketing metrics is being done for Coca Cola who needs no introduction in the beverage market where they have a huge presence for decades. Even though Coca Cola has established its brand over the years but still it requires a dynamic marketing team to work round the clock to ensure that it reaches out to its customers in a market which is volatile and can change in a matter of no time. Therefore marketing metrics is required to constantly analyze the changes in trend, the purchasing habitat of people, customer tastes, and inclination to reward systems or accumulation of points on coca cola consumption. The report also emphasizes the background of the company, its non financial resources and its financial resources. The non financial resources include market share, customer relationship management, awareness, competitor analysis, product lifecycle and customer satisfaction. The financial resources include Sales and Revenue as well as the Return on Investment (ROI). A lot of planned marketing metrics is done by Coca Cola Company so that it can stay competitive in the market. Marketing metrics involves quantitative analysis based on which important business judgments are made and the marketing managers needs to be spot on and accurate in this analysis to use it to the good effect of the organization as a whole. Introduction Marketing metrics is a complex phenomenon and corporate like Coca Cola needs a range of metric to come to a definite and logical analysis. To achieve the marketing metrics a range of parameters and phenomenon needs to be derived and appropriate data input and analysis needs to be done. Customer satisfaction survey is one of the key input areas where customers quantify their satisfaction level. Similarly trend analysis is done with customer survey which gives an insight to the company as to the market trends and habits of the consumers. This section gives a comprehensive insight into the method and manner of producing a marketing metric which would serve the purpose of getting quality and quantitative information of the market situation which will enable the marketing department to come to marketing decisions based on analysis. “The challenge, of course is knowing what to measure and exactly how to measure it. That is where Marketing ...Show more

Summary

Design a Marketing Metrics system for a commercial organisation Executive Summary Marketing is the nucleus of any business and the acquisition of customers becomes the focus of the business. If there is no marketing, then all logistics and operations are of no use as the revenue needs to flow…
Author : wbradtke
Design a Marketing Metrics system for a commercial organisation of the groups choice essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Design a Marketing Metrics system for a commercial organisation of the group's choice"
with a personal 20% discount.
Grab the best paper

Related Essays

Marketing Plan- Marketing metrics
GGI is an importer of gift items and home decor items. They are planning on opening 10 additional stores in various locations. Thus, it is extremely important for GGI to start aggressive marketing campaigns to create awareness about its existence in the retail market.
3 pages (750 words) Essay
Marketing - Marketing Metrics
Profitable Cruise ship marketing includes global marketing strategies. 1. Cruise Ship Industry Reports. The cruise ship industry continuously generates an increasing trend. The same trend is considered a mainstream instead of a niche holiday. The trend shows that the ships are the destination goals of many of the cruise ship clients within the United Kingdom market segment.
8 pages (2000 words) Essay
Marketing Metrics for UK-based SME
According to the report the market metric involves comparison of marketing programs of firms and identifying areas that need improvements. Marketing strategies are identified and assessed against the profitability attributed to them among selected companies within the same industry to enhance reliability of this measurement.
9 pages (2250 words) Essay
Prepare a business and marketing plan for a tourism,hospitality or events organisation of your choice
The meals will cater for variety of fast served high quality Italian meals and will be freshly delivered faster than any other competitor in the industry. The domestic market, in the food industry, for fast foods is large and segmented with Italian foods representing the top most choices within the market (De Thomas, 2008).
4 pages (1000 words) Essay
Organisation of choice: Sony - Strategic use of Design-Thinking
Today, due to a highly competitive operating environment, organisations have devised new ways of ensuring competitiveness in a crowded market. Most organisations have realised that the traditional problem solving methods are no longer viable due to sophistication of organisations.
6 pages (1500 words) Essay
Design of a Retail Organisation based on Marketing Principles
Successful International chains like Wal-Mart, Sainsbury, Home Depot and Kmart are big names today, not just because they sell goods and services, but because they are able to sell their brand names due to a positive spin from the right mix of promotion and brand-building strategies.
6 pages (1500 words) Essay
Organisation Design and Development
For this, a "both-and" model of change and change management is required: one that can realize a synchronicity and complementarity between cultural and structural processes within an organization. The idea that organizational change needs to be coordinated across a number of dimensions--of which structure and culture might be seen as the two most fundamental-is not in itself very new, and has become conventional wisdom in change circles since McKinsey published its well-known Seven S framework, and Peters and Waterman (1982) first aired their excellence truism, "soft is hard." Yet within this literature it is clear that some alignments have generated more interest and debate than others.
6 pages (1500 words) Essay
To design, conduct and report on a marketing research project of your choice
However, dominant as Red Bull has been, it shares the energy drink market with other competitors, among them, Euroshopper. Despite its small market share in comparison with Red Bull, Euro shopper has adopted its
2 pages (500 words) Essay
Organisation Management System
essentially brings the research back to its origins, demonstrating that understanding why people accept or reject technologies is a challenging issue. The adoption of mobile payment services has been no exception. Mobile payment services has been a hot topic since the early
13 pages (3250 words) Essay
Marketing metrics in the context of marketing
Marketing is no longer the relaxed field where the main idea was to generate awareness and brand. Traditionally, marketing was considered the driving force towards a business’ cash flow. However, contemporary business analysts have raised the awareness for companies to
1 pages (250 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation