Increasingly marketers are being asked to measure and justify the amount of money that is being spent on marketing often as a result of the economy and the continued fragmentation of marketing channels. This course will provide marketers and those that manage marketing or will/have the responsibility for the marketing function with an understanding of the tools and approaches that can be used to measure the effectiveness of marketing expenditures. Participants will also gain an understanding of how to assess the results and communicate the returns from marketing spending to management.
Participants will leave this course knowing:
- How to determine which marketing metrics are the most appropriate for their industry (i.e. consumer-packaged goods, services, on-line, etc.)
- How to assess the marketing data available to them as inputs metrics
- How to calculate the most relevant output metrics
- How to develop additional sources of inputs as required by firm management
In addition participants will be better able to identify and manage resources outside of their business or firm/company and to assist them, if needed, in developing and implementing a measurement system with dashboard/flow board
- How to implement a marketing measurement program/dashboard in their business or firm/company
The course will consist of a series of lectures, case discussions, guest speakers and a team project. The course content will be provided by the instructor (A. Dawn Lesh) and will precede the steps that the participants will take for their team project. Lectures will teach participants the range of measures and applications available to measure marketing effectiveness. Some of the individual sessions will be augmented by guest speakers that are subject matter experts for the selected session. Case studies will provide access to real world examples of success using a range of market metrics as well as pitfalls to avoid.