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1.1 LEARNING OBJECTIVES
LO 16-1 Understand the concept of a marketing dashboard and how it improves marketing
planning for a firm.
LO 16-2 Explain return on marketing investment (ROMI), including cautions about its use.
LO 16-3 Identify other relevant marketing metrics and how they are applied.
LO 16-4 Develop detailed action plans in support of the overall marketing plan.
LO 16-5 Decide on an appropriate combination of forecasting approaches.
LO 16-6 Prepare a marketing budget.
LO 16-7 Provide controls and contingency plans.
LO 16-8 Conduct a marketing audit.
1.2 Chapter Outline
I. THE MARKETING DASHBOARD
Goals and Elements of a Marketing Dashboard
Potential Pitfalls in Marketing Dashboards
Toward Your Own Marketing Dashboard
II. RETURN ON MARKETING INVESTMENT (ROMI)
Cautions about Over-reliance on ROMI
Proceed with Caution
III. A SAMPLING OF OTHER MARKETING METRICS
Market Share
Penetration
Margin on Sales
Cannibalization Rate
Customer Lifetime Value (CLV)
Sales Force Effectiveness
Supply Chain Metrics
Promotions and Pass-Through
Cost Per Thousand Impressions (CPM) Rates
Share of Voice
Click-through Rates
IV. DEVELOPING EFFECTIVE ACTION PLANS
Responsibility for the Action Plan
Timing of the Action Plan
Budget for the Action Plan
Measurement and Control of the Action Plan
V. FORECASTING FOR MARKETING PLANNING
Subjective Methods of Forecasting
Sales Force Composite
Jury of Executive Opinion
Objective Methods of Forecasting
Market Test
Time-Series Analysis
Statistical Demand Analysis
Selecting the Appropriate Forecasting Method(s)
VI. THE MARKETING BUDGET
VII. CONTROLS AND CONTINGENCY PLANNING
VIII. THE MARKETING AUDIT
IX. SUMMARY
