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Marketing metrics for UK-based SME - Essay Example
Author : zackeryhartmann
Pages 8 (2008 words)
Marketing metrics for UK-based SME Marketing metrics are the established measurements within business enterprises in regard to marketing. The importance of these measurements is to determine the performance effectiveness and efficiency of the business enterprise marketing strategy framework and the overall marketing program thus enhancing appropriate management of money spend on these programs…
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. Benchmarked items include marketing costs, strategies, performance indicators and the effectiveness of the marketing procedures. This marketing metric gives an insight on specific areas that needs improvement for higher company profitability. Market Research This metric can evaluate marketing effectiveness at a strategic level. It involves assessment on the key strategies that a company has adopted and measuring individual performances in achieving marketing objectives. An example is whether the company has adopted effective price strategy and effective distribution channels. Brand awareness This evaluates the company marketing program to reach out potential and existing customers. Measurements are done on media impressions, the quality and quantity of media coverage and the value of the media program. Customer satisfaction This metric measurement assesses and evaluates the levels of customer’s perceptions on the goods and products of the company. This is determined by the quality of the service that a company offers to its clients and customers. ...