Page 141 - Marketing Management

118 PART 2 CAPTURING MARKETING INSIGHTS

|Fig. 4.3|

Example of a
Marketing Dashboard

Source: Adapted from Patrick LaPointe, Marketing
by the Dashboard Light—How to Get More Insight,
Foresight, and Accountability from Your Marketing
Investments. © 2005, Patrick LaPointe.

• The cash-flow metrics pathway focuses on how well marketing ex- series of tabs that allow the user to toggle easily between different
penditures are achieving short-term returns. Program and cam- “families” of metrics organized by customer, product, experience, brand,
paign ROI models measure the immediate impact or net present channels, efficiency, organizational development, or macroenvironmental
value of profits expected from a given investment. factors. Each tab presents the three or four most insightful metrics, with
• The brand metrics pathway tracks the development of the longer- data filtered by business unit, geography, or customer segment based on
term impact of marketing through brand equity measures that the users’ needs. (See Figure 4.3 for a sample brand metrics page.)
assess both the perceptual health of the brand from customer and Ideally, the number of metrics presented in the marketing dash-
prospective customer perspectives as well as the overall financial board would be reduced to a handful of key drivers over time. Meanwhile,
health of the brand. the process of developing and refining the marketing dashboard will un-
doubtedly raise and resolve many key questions about the business.
LaPointe feels a marketing dashboard can present insights from all
the pathways in a graphically related view that helps management see
Source: Adapted from Pat LaPointe, Marketing by the Dashboard Light,
subtle links between them. A well-constructed dashboard can have a Association of National Advertisers, 2005, www.MarketingNPV.com.

Summary

1. Companies can conduct their own marketing research or 3. In conducting research, firms must decide whether to
hire other companies to do it for them. Good marketing re- collect their own data or use data that already
search is characterized by the scientific method, creativity, exist. They must also choose a research approach
multiple research methods, accurate model building, cost- (observational, focus group, survey, behavioral data, or
benefit analysis, healthy skepticism, and an ethical focus. experimental) and research instruments (questionnaire,
2. The marketing research process consists of defining the qualitative measures, or technological devices). In
problem, decision alternatives; and research objectives; addition, they must decide on a sampling plan and
developing the research plan; collecting the information; contact methods (by mail, by phone, in person, or
analyzing the information; presenting the findings to online).
management; and making the decision.