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Marketing Metrics: The Definitive Guide to Measuring Marketing Performance (2nd Edition) Hardcover – Feb 3 2010

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Product Details

  • Hardcover: 432 pages
  • Publisher: Pearson FT Press; 2 edition (Feb. 3 2010)
  • Language: English
  • ISBN-10: 0137058292
  • ISBN-13: 978-0137058297
  • Product Dimensions: 18.8 x 3.3 x 23.4 cm
  • Shipping Weight: 794 g
  • Average Customer Review: 5.0 out of 5 stars 2 customer reviews
  • Amazon Bestsellers Rank: #147,721 in Books (See Top 100 in Books)
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Product Description

From the Back Cover

The Definitive Guide to theNewState-of-the-Art in Marketing Metrics

 

Marketing Metrics, Second Edition, is the definitive guide to today's most valuable marketing metrics. In this thoroughly updated and significantly expanded book, four leading marketing researchers show exactly how to choose the right metrics for every challenge.

 

The authors show how to use marketing dashboards to view market dynamics from multiple perspectives, maximize accuracy, and “triangulate to optimal solutions. You'll discover high-value metrics for virtually every facet of marketing: promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and pricing; products and portfolios; customer profitability; sales forces and channels; and more.

This edition introduces essential new metrics ranging from Net Promoter to social media and brand equity measurement. Last, but not least, it shows how to build comprehensive models to support planning--and optimize every marketing decision you make.

 

Choose the right metric for every marketing challenge

Understand the full spectrum of marketing metrics: pros, cons, nuances, and application

 

Gain a deep and thorough understanding of marketing profitability

Quantify the profitability of products, customers, channels, and marketing initiatives

 

Assess web and social media effectiveness, accurately and in detail

Measure everything from “bounce rates to the growth of your web communities

 

Link marketing to your enterprise financial metrics

Understand your true return on marketing investment--and enhance it

 

This award-winning book will show you how to apply the right metrics to all your marketing investments, get accurate answers, and use them to systematically improve ROI.

 

You'll find practical, up-to-the-minute techniques for measuring everything from brand equity to social media, market share to web engagement. For every metric, the authors present real-world pros, cons, and tradeoffs--and help you understand what the numbers really mean. You'll learn how to design and interpret marketing dashboards to identify emerging opportunities and risks and use powerful new modeling techniques to optimize every decision you make. In this second edition the authors expand their treatment of social marketing, web metrics, and brand equity. They also give readers new systems for organizing marketing metrics into models and dashboards that translate numbers into management insight.

 

•  Strategy + Business “Best Books in Marketing award winner—now fully updated!

•  30% more coverage: from social media and brand equity to modeling for better decision-making

•  Covers promotions, advertising, distribution, customer perception, market share, pricing, margins, portfolios, channels, dashboards, and much more

 

About the Author

Paul W. Farris is Landmark Communications Professor and Professor of Marketing at The Darden Graduate Business School, University of Virginia, where he has taught since 1980. Professor Farris’s research has produced award-winning articles on retail power and the measurement of advertising effects. He has published more than 50 articles in journals such as the Harvard Business Review, Journal of Marketing, Journal of Advertising Research, and Marketing Science. He is currently developing improved techniques for integrating marketing and financial metrics and is coauthor of several books, including The Profit Impact of Marketing Strategy Project: Retrospect and Prospects. Farris’s consulting clients have ranged from Apple and IBM to Procter & Gamble and Unilever. He has served on boards of manufacturers, retailers, and e-Business companies. Currently, he is a director of GSI Group, Sto Corp., and The Ohio Art Company.

 

Neil T. Bendle is a Ph.D. candidate in marketing at the Carlson School of Management, University of Minnesota. While studying for his Ph.D. he has won awards for his teaching, and his thesis has focused on managers’ difficulties in understanding consumer tastes. He holds an MBA from Darden and has nearly a decade’s experience in marketing management, consulting, business systems improvement, and financial management. He was responsible for measuring the success of marketing campaigns for the British Labour Party.

 

Phillip E. Pfeifer, Richard S. Reynolds Professor of Business Administration at The Darden Graduate Business School, currently specializes in direct/interactive marketing. He has published a popular MBA textbook and more than 35 refereed articles in journals such as the Journal of Interactive Marketing, Journal of Database Marketing, Decision Sciences, and the Journal of Forecasting. In addition to academic articles and a textbook, Mr. Pfeifer is a prolific case writer, having been recognized in 2004 as the Darden School’s faculty leader in terms of external case sales, and in 2008 with a Wachovia Award for Distinguished Case writer. His teaching has won student awards and has been recognized in Business Week’s Guide to the Best Business Schools. Recent consulting clients include Circuit City, Procter & Gamble, and CarMax.

 

David J. Reibstein is Managing Director of CMO Partners and William Stewart Woodside Professor of Marketing at the Wharton School. Regarded as one of the world’s leading authorities on marketing, he served as Executive Director of the Marketing Sciences Institute, and co-founded Wharton’s CMO Summit, which brings together leading CMOs to address their most pressing challenges. Reibstein architected and teaches the Wharton Executive Education course on marketing metrics. He has an extensive track record consulting with leading businesses, including GE, AT&T Wireless, Shell Oil, HP, Novartis, Johnson & Johnson, Merck, and Major League Baseball. He has served as Vice Dean and Director of Wharton’s Graduate Division, as visiting professor at Stanford and INSEAD, and as faculty member at Harvard. He serves on the Board of Directors of Shopzilla, And1, and several other organizations.

 


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Format: Hardcover
Note: The review that follows is of the Second Edition (2010), a sequel to Marketing Metrics: 50+ Metrics Every Executive Should Master (2006).

Data-based marketing is both an art and a science but many (if not most) marketers do not always include metrics - or at least the metrics needed -- among the data on which they depend when making and then evaluating strategic decisions to create or increase demand of what they offer.

What Paul Farris, Neil Bendle, Phillip Pfeifer, and David Reibstein offer in this book is what they characterize as "a comprehensive, practical reference on the metrics used to judge marketing programs and quantify their results." This is a research-driven rather than theory-driven book, as the footnotes, "References and Suggested Further Reading" sections, and Bibliography clearly indicate. Readers will also appreciate how skillfully the co-authors use "Key concepts covered in this chapter" sections (Chapters 2-10) and dozens of "Figures" and Tables" throughout the book to complement, highlight, or even consolidate key points within the narrative.

Opinions vary to the origin of the admonition that "you can't manage what you cannot measure" but no one questions the importance of obtaining accurate, relevant, and sufficient data to serve as a foundation to the decision-making process, no matter who is involved, whatever the nature and extent of the given issues and objectives may be. Nonetheless, as John A. Quelch observes, "marketing is one of the least understood, least measurable functions at many companies...Marketing executives, for their part, often fail to develop the quantitative, analytical skills needed to manage productivity.
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Most Helpful Customer Reviews on Amazon.com (beta)

Amazon.com: HASH(0x965a2624) out of 5 stars 40 reviews
22 of 23 people found the following review helpful
HASH(0x96625f9c) out of 5 stars Every marketing professional should buy this book Oct. 4 2010
By V. K. Lee - Published on Amazon.com
Format: Hardcover Verified Purchase
I'm a career marketing executive with 13 years of experience currently working as a Director of Marketing and Analytics for a VC-backed firm. This book is invaluable to me at our firm as we take a deep dive into our own data and attempt to build custom metrics and KPIs. This book provides insightful frameworks into how intelligent metrics are mathematically constructed, along with discussing their assumptions and limitations.

The writing is succinct, and the organization of this book appeals to one's intelligence and time. You don't have to read this book cover to cover! The table of contents in such a wonderful and simple fashion breaks down the book into the major subcategories of Marketing, such as Product and Portfolio Development. Each chapter first outlines and summaries major relevant metrics, and then discusses each in detail complete with theorems, assumptions, considerations, and weaknesses.

Every intelligent, ambitious, and professional executive must own this book. It gives you a rare balance of academic and practical rigor. If you don't see metrics that can help your business, then you can borrow its notions into how some of the most influential KPIs are constructed and then use those frameworks to exploit your own intelligence issues.

This is a great reference book, and it has a special place on my bookshelf at work. You don't have to be an academic to understand this book. If you are patient with this book, you will see what a gem this is. 5 stars.

Disclosure: I am neither a student, nor do I know any of the authors of this book.
18 of 21 people found the following review helpful
HASH(0x966615ac) out of 5 stars Good compendium of marketing metrics Jan. 22 2011
By Tezza - Published on Amazon.com
Format: Hardcover Verified Purchase
The book is both an overview and a detailed discussion of every marketing metric you'd ever want to know.

I had studied some of the concepts in a business school course and throughout reading various literature, however it's nice to have the information all in one spot like a handy reference.

Unfortunately the metrics don't apply well to new media - for instance there is only one metric for social networking.

Probably a good follow on to this book would be the impact on smart phone apps, social networking, etc. etc. and relevant marking metrics.

I gave it four stars because I think it's an excellent compendium but I wouldn't say the earth moved for me as a result of reading it.
6 of 7 people found the following review helpful
HASH(0x9666d5dc) out of 5 stars A reference any marketer should have on hand April 17 2010
By Midwest Book Review - Published on Amazon.com
Format: Hardcover
Objectivity is something hard to find, even in numbers. "Marketing Metrics: The Definitive Guide to Measuring Marketing Performance" is a guide to understanding the many measures of success in today's world and how to cut through spins and other word plays to best understand the real facts and numbers of business. It covers how to use these numbers to revise one's business strategy to meet these numbers, and the new and updated edition offers more facts and references to use in formulating one's own marketing plan. "Marketing Metrics" is a reference any marketer should have on hand.
4 of 4 people found the following review helpful
HASH(0x96d635ac) out of 5 stars Very helpful. Aug. 12 2013
By Craig Cunningham - Published on Amazon.com
Format: Hardcover Verified Purchase
Very detailed, well written and helpful.

Simple explanations to complex issues. Very through. Helpful to establish marketing strategy, built around the right metrics.
5 of 6 people found the following review helpful
HASH(0x965e60d8) out of 5 stars A comprehensive guide to measuring marketing results Feb. 4 2012
By Marian B. Wood - Published on Amazon.com
Format: Hardcover
You can't manage it if you can't measure it--and this authoritative book details metrics for every aspect of marketing, from profit margins and product portfolios to pricing, promotion, and the Web. Although I was a fan of the 1st edition, the 2nd edition is even more useful because it covers standard metrics for online communications. Especially strong: The chapter on pricing strategy, which explains a variety of calculations and measures for making good pricing decisions. In short, this book is a must-have reference for every marketing manager.


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