measure

Examples of measure in the following topics:

• Methods for Evaluating Marketing Performance

  • The methods for evaluating the performance of, and responses to, these materials range from simple calculations measuring return on investment, to tallying the number of visits to a website.
  • Using different measurements to evaluate different communications activities, competitors, and markets does not allow direct comparison and results in lost synergies.
  • All measurement systems should take into account accuracy, repeatability, reproducibility, bias, data shifts, and data drifts.
  • Measurement error must be quantified so that managers can react to changes in conditions, but not to changes due to measurement variation.
  • Using an established methodology to evaluate marketing effectiveness helps companies accurately measure performance and assess business needs.

• Measuring Effectiveness of Public Relations Efforts

  • Measuring and evaluating the effectiveness of a public relations campaign is necessary to ensure that established objectives are met.
  • Before any public relations program can be properly evaluated, it is important to clearly establish a set of measurable objectives.
  • A minimum of three levels of measurement and evaluation include:
  • It is the measurement of changes in attitudes, opinions, and behavior.
  • Explain how organizations can measure and evaluate the effectiveness of the campaign

• Service Marketing Management and Metrics

  • Service marketing management oversees the implementation of marketing programs, while metrics measure their effectiveness and performance.
  • Marketing management employs a variety of metrics to measure progress against objectives.
  • Other elements of measurement include net sales billed, number of product or design registrations, brand surveys to measure brand awareness, the return on the investment, and website hits.
  • By navigating this metrics continuum, from Activity-Based to Predictive, marketers can move towards more effective marketing measurement and align measurement and metrics with business outcomes.
  • Explain how marketing management and metrics allow service organizations to implement and measure their marketing strategy

• Measuring the Market

  • Before a commitment to a product or supply chain is made, businesses must test and measure its viability.
  • The real value this type of results measurement is in tying the marketing campaign into the business results.
  • So they must put metrics in place to measure campaigns, and if at all possible, measure their impact on the target market, be it Cost Per Acquisition, Cost per Lead or tangible changes in customer perception.
  • Measurement is key to production decisions at all levels of the supply chain
  • Define the "customer value model" and its role in measuring market demand

• Marketing Performance Metrics

  • Marketing metrics have different elements of measurement, including net sales billed, number of product or design registrations, and brand surveys to measure brand awareness.
  • The purpose of metrics such as ROMI is to measure the degree to which marketing spending contributes to profits.
  • Return on marketing investment is one of the most difficult organizational aspects to measure.
  • Short-term ROMI measures revenue such as market share, contribution margin or other desired outputs for every marketing dollar spent.
  • Marketing return on investment (ROI) is another term that refers to measuring company sales and profits.

• The Importance of Evaluating Marketing Performance

  • The intangible benefits of marketing – improving and enhancing brand awareness; educating customers and prospects about product benefits; and strengthening stakeholder relationships – make measuring its financial impact a perplexing and challenging process.
  • Ideally, marketing performance measurement should be a logical extension of the planning and budgeting exercise that happens before a company's fiscal year.
  • The goals that are set should be both measurable and applicable to every marketing role within an organization.
  • Companies employ various methodologies to measure marketing performance and ensure they meet those performance goals.
  • As marketers face more and more pressure to show a return on investment (ROI) on their activities, marketing performance metrics help measure the degree to which marketing spending contributes to profits.

• Measuring Success

  • The above performance analyses concentrate on quantitative measures directly related to short-term performance.
  • However, there are a number of indirect measures tracking customer attitudes which can also indicate the organization's performance over a longer period of time.

• Measuring Impact with Metrics

  • Reach, frequency, GRPs, TRPs, impressions, CPM, and CPP are all metrics used to measure the impact of an advertising campaign.
  • This unit discusses seven popular advertising metrics that measure what you did, as well as where and how you spent your budget.
  • Reach is a measurement of the size of the audience to whom you will communicate.
  • When reach is multiplied by average frequency a composite measure called Gross Rating Points (GRPs) is obtained.
  • Marketing metrics allow companies to measure the effectiveness of their campaigns.

• Consumer Income, Purchasing Power, and Confidence

  • The CPI and CCI are measures of the strength of the economy, and perceptions of businesses and individuals towards the economic future.
  • A consumer price index (CPI) measures changes in the price level of consumer goods and services purchased by households.
  • The annual percentage change in a CPI is used as a measure of inflation.
  • Consumer confidence is an economic indicator which measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation.
  • The CCI is an important measure used by businesses, economic analysts, and the government in order to determine the overall health of the economy (see ).

• Calculating Market Share

  • Market share is an important indicator of the strength of a business in it's industry, even though there is no standard way to measure it.
  • -- Unit market share: The units sold by a particular company as a percentage of total market sales, measured in the same units.
  • The reasons for these disparities include variations in the lenses through which share is viewed (units versus dollars), where in the channel, measurements are taken (shipments from manufacturers versus consumer purchases), market definition (scope of the competitive universe), and measurement error.
  • Market dominance is a measure of the strength of a brand, product, service, or firm, relative to competitive offerings.
  • The Herfindahl index is a measure of the size of firms in relation to the industry and an indicator of the amount of competition among them.