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| Marketing Metrics: 50+ Metrics Every Executive Should Master | 
 enlarge | Authors: Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, David J. Reibstein
Publisher: Wharton School Publishing
Category: Book
List Price: $39.99
Buy New: $24.91
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Avg. Customer Rating:  27 reviews
Sales Rank: 7185
Media: Hardcover
Edition: 1
Number Of Items: 1
Pages: 384
Shipping Weight (lbs): 2
Dimensions (in): 9.3 x 6.9 x 1.7
ISBN: 0131873709
Dewey Decimal Number: 658.83
EAN: 9780131873704
ASIN: 0131873709
Publication Date: April 28, 2006
Availability: Usually ships in 1-2 business days
Condition: All orders ship same business day via standard shipping (USPS Media Mail) if received by 1 PM CST.
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Product Description
"Few marketers recognize the extraordinary range of metrics now available for evaluating their strategies and tactics. In Marketing Metrics, four leading researchers and consultants systematically introduce today's most powerful marketing metrics. The authors show how to use a "dashboard" of metrics to view market dynamics from various perspectives, maximize accuracy, and "triangulate" to optimal solutions. Their comprehensive coverage includes measurements of promotional strategy, advertising, and distribution; customer perceptions; market share; competitors' power; margins and profits; products and portfolios; customer profitability; sales forces and channels; pricing strategies; and more. You'll learn how and when to apply each metric, and understand tradeoffs and nuances that are critical to using them successfully. The authors also demonstrate how to use marketing metrics as leading indicators, identifying crucial new opportunities and challenges. For clarity and simplicity all calculations can be performed by hand, or with basic spreadsheet techniques. In coming years, few marketers will rise to senior executive levels without deep fluency in marketing metrics. This book is the fastest, easiest way to gain that fluency. "
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| Customer Reviews: Read 22 more reviews...
 Like the Kama Sutra... July 3, 2006
40 out of 49 found this review helpful
Reading this book is a little like reading the Kama Sutra. Both books discuss fascinating subjects but readers are given far more information than they are ever likely to use in practice.
Some critical weaknesses. First, there is the number of metrics: there are 114 (and some metrics are divided into sub-metrics, too). Another problem is that while the authors describe a broad range of metrics and scales, they are often less than informative as to how measurement is to be accomplished. They maintain, for example, that brand awareness should be measured on a scale of 1-7; but they give little information on how this notoriously sensitive subject can be quantified accurately. The same is true of metrics such as customer intentions and loyalty.
Finally, does this book really solve the problem of how to measure marketing performance or payback? On the whole, it does not. Nor does it discuss the key decisions that managers must make about marketing, and this lack of decision-orientation is the biggest weakness of the book. Managers need guidance that links with real world decisions.
Much better alternatives are:
- Marketing and the Bottom Line (ISBN: 0273661949)
- Marketing Payback (ISBN: 0273688847)
 Marketing Metrics Made Meaningful May 13, 2006
26 out of 30 found this review helpful
Millions, perhaps even billions, of dollars are at stake. Yet, one often suspects, executives are basing decisions without a fundamental understanding of the metrics and what they truly measure. Creatives create campaigns to drive sales; yet, do not want to be held accountable for results. Board members lack the foundation to evaluate such large expenditures.
With 50+ Metrics Every Executive Should Master, Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer and David J. Reibstein describe the sources, strengths and weaknesses of a vista of marketing metrics. Their explanations guide the reader on how to harness data for insight. Having this insight, the authors, take these insights and explain how to act on them.
The authors establish the core concepts and then build the reader's sophistication. They cluster their metrics in ways that help the reader to recognize patterns of reinforcement and interdependence. They address the range of marketing issues. Customer perceptions, market share, margins and profits, product and portfolio Management, customer profitability, sales force and channel management, pricing strategy, promotion, advertising and web metrics, marketing and finance and leading indicators are addressed in a thoughtful and thorough fashion.
Topics are covered from a big company perspective. Yet the concepts in the book can also be applied to small companies concerned with spending marketing dollars effectively.
Every executive who is responsible for the way their company competes should study the metrics in this book July 25, 2006
22 out of 23 found this review helpful
Personally, I love these kinds of handbooks. Having a ready resource for these dozens of metrics can help any executive understand their business and think about ways to compete in the marketplace in new ways. Too often marketing is thought of in terms of advertising and sales, but it is so much more than that. Marketing is everything your company does or needs to do to choosing a marketplace, the products to compete with, how to promote and sell them, and how to better understand your market, your competition, and how it is changing over time.
This excellent book has eleven chapters. The first provides an introduction to the book, its layout and purpose. The last chapter takes you through what the authors call the marketing x-ray. It explains the practical aspects of the ratios provided and how they can reveal things about apparently healthy companies that can help you make changes before it is too late, just as an x-ray can alert you to a health problem before things become dire.
The other nine chapters take the reader through various business ratios for measuring your share of the hears, minds, and markets of your customers, margins and profits, product and portfolio management, customer profitability, sales force and channel management, pricing strategy, promotion, advertising media and web metrics, and marketing and finance.
What is good about working through these metrics is that you will be asking yourself questions that you need to ask. Even if the metric doesn't apply to your specific situation, finding out that it doesn't will help you think more clearly about your situation. You may find that some of them will help you think through things that are important to your business with a new perspective. Some of the data for the metrics is hard to come by, and thinking that through will help you think about your business in a more focused way because your assumptions will have to be more explicitly made rather than the kind of vague impressions we too often let suffice for thinking about our business.
This book is an excellent resource and all executives responsible for the way their business competes in the marketplace should have this book. I believe there are also seminars being offered that teach the metrics on this book. While I have no idea of their quality, they do sound interesting for the right audience.
Whatever is most important can, indeed must be measured...accurately and consistently. May 9, 2007
16 out of 16 found this review helpful
Obviously, it is highly desirable to measure what matters and that is especially true of marketing initiatives. Here's the challenge which many (most?) readers will face after they finish reading this volume: Which metrics are the most appropriate for their specific organization? Co-authors Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, and David J. Reibstein offer 50+ and in an ideal business world, every executive can - and will - master all of them. That is possible but highly unlikely. Fortunately, the authors offer a wealth of information and observations that can guide and inform the selection of those metrics that will enable executives to "gather and analyze basic market data, measure the core factors that drive their business models, analyze the profitability of individual customer accounts, and optimize resource allocation among increasingly fragmented media.
To the authors' substantial credit, they make effective use of a number of reader-friendly devices which enliven what would be an otherwise dull textbook and they do without compromising the integrity of research-driven insights which so many books on marketing lack. These devices include definitions, formulas, and brief descriptions of various metrics. They also include within individual chapters several sections, such as "Construction" (e.g. metrics issues concerning their formulation, application, interpretation, and strategic ramifications), "Data Sources, "Complications, and Cautions" (i.e. an analysis of the limitations of the metrics under consideration, and their potential inadequacies once executed), and "Related Metrics and Concepts" (briefly surveyed). This is by no means an "easy read" but will generously reward those who absorb and digest its material with appropriate rigor.
Although I believe this volume can be of substantial value to executives in almost all organizations (regardless of size or nature), I think it will be of greatest benefit to those - probably in larger companies -- who have an urgent need for accurate and consistent measurement of, for example, the dynamics behind their market share; the profitability of producing, pricing, selling, distributing, and servicing what they offer; and the ROI of marketing initiatives within the framework of enterprise financial metrics.
Those who share my high regard for this volume are urged to check out Enterprise Architecture As Strategy: Creating a Foundation for Business Execution by Jeanne W. Ross, Peter Weill, and David Robertson as well as Ram Charan's Know-How: The 8 Skills That Separate People Who Perform from Those Who Don't, Lynda Gratton's Hot Spots: Why Some Teams, Workplaces, and Organizations Buzz with Energy - And Others Don't, Robert J. Herbold's Seduced by Success: How the Best Companies Survive the 9 Traps of Winning, Jack Alexander's Performance Dashboards and Analysis for Value Creation, and Michael Useem's The Go Point: When It's Time to Decide--Knowing What to Do and When to Do It.
A Must Have Book for All Marketing Professionals April 27, 2006
12 out of 13 found this review helpful
As the former chief marketing officer of a major engineering services firm (0ver 3,000 employees), I wish I could have had the benefit of having read Marketing Metrics -- first.
My strategic marketing group was more anecdotal than strategic. While they did the best that they could with the resources they had, anecdotal data is just that.
The principles found in Chapter 5, "Customer Profitability," could have enabled the strategic marketing group to more accurately measure our effectiveness in delivering value-added services to our many customers. Other sections of the book, particularly Chapter 6, could have had equal applicability in other facets of our analytical work.
With the material found in this book, our strategic future in a fast changing marketplace could have been plotted with far greater discipline.
The book would have made my strategic marketing group truly strategic.
In conclusion, I believe that the detailed, yet easy to read, Marketing Metrics is as applicable (and necessary) in a service industry as it is in a product environment.
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