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Marketing performance measurement and management: Marketing effectiveness, Performance management, Rate of return, Performance indicator, Business process, ... management, Marketing mix modeling
by:Miller, Frederic P.
Marketing performance measurement and management (MPM) is a term used by marketing professionals to describe the analysis and improvement of the efficiency and effectiveness of marketing. This is accomplished by focus on the alignment of marketing activities, strategies, and metrics with business goals. It involves the creation a metrics framework...
Marketing performance measurement and management (MPM) is a term used by marketing professionals to describe the analysis and improvement of the efficiency and effectiveness of marketing. This is accomplished by focus on the alignment of marketing activities, strategies, and metrics with business goals. It involves the creation a metrics framework to monitor marketing performance, and then develop and utilize marketing dashboards to manage marketing performance. This strategy is used by several companies such as IBM, Intel, and Citrix. Performance management is one of the key processes applied to business operations such as manufacturing, logistics, and product development. The goals of performance management are to achieve key outcomes and objectives to optimize individual, group, or organizational performance. MPM however, is more specific. It focuses on measuring, managing, and analyzing marketing performance to maximize effectiveness and optimize the return of investment (ROI) of marketing. Three elements play a critical role in managing marketing performance?data, analytics, and metrics.
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