Summary: Marketing Performance

Read the summary and the most important questions on Marketing Performance

• 1 Lectures

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• What is the primary behavioural measure for loyalty and what are the components?

  RFM
  

  • Recency = Length of time since a customer’s last purchase (number of months since last purchase)
  • Frequency = How often does a customer purchase (number of purchases per month)
  • Monetary = How much does a customer spend (average amount per purchase)

• Actionability can be measured by asking three questions, which are those?

  • Can measurement results easily be translated into actionable guidelines?
  • If the goal was …, would the metric have helped to ascertain whether the goal was met?
  • Can we link social media metrics to offline/broader metrics?

• How can the strenght of stakeholder relationship and support be holistically measured?

  • Adopt a stakeholder perspective on marketing performance and get hands dirty
  • Measure stakeholder relationship strength: See stakeholders as continuous multiplicities 
  • Measure stakeholder support: Real-time brand reputation tracking using social media
  • Develop real-time metrics in a monitoring dashboard

• 2 Artike1 1: Katsikeas et al. (2016): Assessing Performance Outcomes in Marketing

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• Which central key question in the marketing discipline is important for the Katsikeas et al. (2016) paper and why is this question critical to answer?

  • The role firms' marketing plays in explaining performance outcomes
  • Critical to answer for ensuring the relevance of academic research and strengthening marketers’ voice in firm-level strategy.

• What is the main reason for study for the Katsikeas et al. (2016) paper?

  Linking firms' marketing with performance outcomes is a critical issue, but scant attention has been devoted to how performance is conceptualized and measured.

• What kind of framework and what kind of research did the Katsikeas et al. (2016) paper provide?

  • Theory-based performance evaluation framework
    
  • Research based on reading papers and thinking about the world, no empirical study is done

• Which two things hold the accepted paradigm for measurement development and theory testing in organizational science?

  1. The conceptual domain of a construct must be well-defined and understood before operationalization can be attempted
     
  2. The measures used should represent a valid sample of indicators of the domain of the construct they purport to measure

• In which two respects is the whole marketing performance outcome chain dynamic?

  1. Firms reinvest financial resources they generate to build and maintain their marketing-related resources and capabilities
     
  2. Firms learn by going through the stages of the chain in ways that lead to adjustments to their selection and management of future marketing resources and marketing program actions

• What are the three forms of the conceptual approach to treatment and performance (one of the critical issues)?

  1. Latent construct: General conception of performance, varous elements/dimensions are to a large extent linked and they covary
     
  2. Separate constructs: Existing of distinct aspects/dimenstions of performance, but no evidence for specific ones
  3. Aggregate: Well defined composite of mathematical combination of performance items/dimensions which do not covary

• What are the six aspects of performance assessed (one of the critical issues and also in the framework)?

  1. Customer mindset
     
  2. Customer behaviour
  3. Customer level performance
  4. Product market performance
  5. Accounting performance
  6. Financial market performance