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3028MKT - Strategic Marketing > Chapter #2: Marketing Metrics & Marketing Profitability > Flashcards

Chapter #2: Marketing Metrics & Marketing Profitability Flashcards

1
Q

What 4 steps are required to track market performance and profitability?

A
  • Market analysis (tools and data)
  • MKT metrics (performance measures)
  • MKT profits & MKT ROI
  • Company and business investment/unit profits
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2
Q

Why is it important to track marketing metrics?

A

Is what we’re doing working?

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3
Q

List the financial metrics

A

Profit and profit contribution
Profit margin
ROI

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4
Q

What type of metric is “profit and profit contribution” categorised as?

A

Financial

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5
Q

What type of metric is “profit and margin” categorised as?

A

Financial

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6
Q

What type of metric is “ROI” categorised as?

A

Financial

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7
Q

What are two profit growth strategies?

A

Market growth strategy - bringing more customers into the market

Market share strategy - Market penetration

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8
Q

List the behavioural metrics

A

Sales

Market share

Market penetration

Purchase frequency

Share of category requirements (SCR)

Solely loyal customers (100% loyal)

Defection rate

Customer complaints & recommendations

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9
Q

What type of metric is “sales” categorised as?

A

Behavioural

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10
Q

What type of metric is “market share” categorised as?

A

Behavioural

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11
Q

What type of metric is “market penetration” categorised as?

A

Behavioural

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12
Q

What type of metric is “purchase frequency” categorised as?

A

Behavioural

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13
Q

What type of metric is “share of category requirements (SCR)” categorised as?

A

Behavioural

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14
Q

What type of metric is “solely loyal customers - 100% loyal” categorised as?

A

Behavioural

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15
Q

What type of metric is “defection rate” categorised as?

A

Behavioural

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16
Q

What type of metric is “customer complaints and recommendations” categorised as?

A

Behavioural

17
Q

List the memory metrics

A

Brand awareness

Brand image associations

Mental availability

Attitude

Customer satisfaction and service quality

Intention to buy

18
Q

What type of metric is “brand awareness” categorised as?

A

Memory

19
Q

What type of metric is “brand image associations” categorised as?

A

Memory

20
Q

What type of metric is “mental availability” categorised as?

A

Memory

21
Q

What type of metric is “attitude” categorised as?

A

Memory

22
Q

What type of metric is “customer satisfaction and service quality” categorised as?

A

Memory

23
Q

What type of metric is “intention to buy” categorised as?

A

Memory

24
Q

List the physical availability metrics

A

Number of distribution points

Hours of opening

Geographical coverage (distribution and delivery)

Number of display points in store

Number of shelves devoted to the brand

25
Q

What type of metric is “number of distribution points” categorised as?

A

Physical Availability

26
Q

What type of metric is “hours of opening” categorised as?

A

Physical Availability

27
Q

What type of metric is “geographical coverage (distribution and delivery)” categorised as?

A

Physical Availability

28
Q

What type of metric is “number of display points in store” categorised as?

A

Physical Availability

29
Q

What type of metric is “number of shelves devoted to the brand” categorised as?

A

Physical Availability

30
Q

Why do we track marketing activity metrics?

A

To measure and track the successfulness of the marketing strategies that are implemented (and measure ROI)

31
Q

List the customer profile metrics

A

(used to define all the different buyers in a category - the target audience)

Age, gender, income

Who the buyers are

where they live

What media they consume

Where/when/how they shop

32
Q

What type of metric is “age, gender, income” categorised as?

A

Customer Profile Metrics

33
Q

What type of metric is “who the buyers are” categorised as?

A

Customer Profile Metrics

34
Q

What type of metric is “where they live” categorised as?

A

Customer Profile Metrics

35
Q

What type of metric is “what media they consume” categorised as?

A

Customer Profile Metrics

36
Q

What type of metric is where/when/how they shop categorised as?

A

Customer Profile Metrics

37
Q

Why are marketing benchmarks important?

A

So that we can measure the successfulness of initiatives relative to past success

3028MKT - Strategic Marketing (10 decks)

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