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Measuring Marketing Effectiveness

One of the major issues facing marketers today is measuring the effectiveness of various marketing campaigns. In the past, marketers set a budget for advertising, personal selling, and the like based on past sales or the need to push future sales. Measuring results has always been difficult and was given less attention. Now, however, marketers are demanding more accountability from their advertising agencies, their sales forces, and their website activities. They want to know who is receiving their messages and what the results are.

Many companies don't know how to establish such metrics, or measures or effectiveness. Digital media have more accurate metrics, and these are forcing marketers to find more reliable statistics for traditional marketing methods like TV advertising. Some companies have turned to the finance department to help develop metrics. The question often comes down to whether the measure should be of sales or of consumer attitudes. Some 60 percent of marketers measure consumer attitudes as a result of marketing campaigns, but fewer than 40 percent use those data for preparing their marketing budgets, preferring instead to rely on their own instincts.

1
You are planning a marketing campaign for Very Vegetarian. How might you go about measuring the effectiveness of your advertising?
2
What would your reaction be if you found potential customers had heard about your restaurant but had not yet acted on that information and come in to buy?
3
Using your own reactions, discuss what marketing tools are most effective in reaching college-age students and others. Talk with fellow students from different ethnic and age groups to determine whether their answers are different from yours and how.







Nickels: Undstd Business 9eOnline Learning Center

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