Marketing Effectiveness: Metrics for Effective Strategic Marketing

Marketing Effectiveness: Metrics for Effective Strategic Marketing

WoS Article

The topic of marketing effectiveness is considered to be a very up-to-date subject in the highly competitive environment. Marketing effectiveness may be characterized as the function of improving the process where marketers go to market with the goal of optimizing their own marketing resources spent to achieve even better results for both of the short- and long-term strategic marketing objectives. Not only the improved visibility into marketing effectiveness has helped companies to better prioritize their efforts, but it also has improved the quality and precision of the marketing resources demanded by the sales force. Finding the appropriate key metrics should contribute to the evaluation of marketing effectiveness. Strategic marketing is included in strategic management, which helps to improve the company’s market share. However, there is an increasing trend of creation effectiveness in companies and it is necessary to check returns of finance and search for efficiency of the funds put into marketing. Performance management can be defined as a system utilizing the information to introduce appropriate changes in the organizational culture, systems and processes to achieve optimal performance agreement targets, and the allocation of resource and information management on possible modifications of business strategy. The scientific objective of the paper is to look for the set of metrics, which is important from the marketing strategic point of view, and includes the specific performance group. Data from primary research was used. The entire primary research focused on the evaluation of enterprises in the area of business and marketing activities (and their performance) in the Czech Republic due a questionnaire survey.

The topic of marketing effectiveness is considered to be a very up-to-date subject in the highly competitive environment. Marketing effectiveness may be characterized as the function of improving the process where marketers go to market with the goal of optimizing their own marketing resources spent to achieve even better results for both of the short- and long-term strategic marketing objectives. Not only the improved visibility into marketing effectiveness has helped companies to better prioritize their efforts, but it also has improved the quality and precision of the marketing resources demanded by the sales force. Finding the appropriate key metrics should contribute to the evaluation of marketing effectiveness. Strategic marketing is included in strategic management, which helps to improve the company’s market share. However, there is an increasing trend of creation effectiveness in companies and it is necessary to check returns of finance and search for efficiency of the funds put into marketing. Performance management can be defined as a system utilizing the information to introduce appropriate changes in the organizational culture, systems and processes to achieve optimal performance agreement targets, and the allocation of resource and information management on possible modifications of business strategy. The scientific objective of the paper is to look for the set of metrics, which is important from the marketing strategic point of view, and includes the specific performance group. Data from primary research was used. The entire primary research focused on the evaluation of enterprises in the area of business and marketing activities (and their performance) in the Czech Republic due a questionnaire survey.

Marketing efficiency, marketing metrics, effectiveness, performance, strategy marketing

Marketing efficiency, marketing metrics, effectiveness, performance, strategy marketing

MILICHOVSKÝ, F.; ŠIMBEROVÁ, I.

2016

25.04.2015

Kaunas University of Technology

Kaunas

1392-2785

Inzinerine Ekonomika-Engineering Economics

26

2

Republic of Lithuania

211

219

9

http://inzeko.ktu.lt/index.php/EE/article/view/3826/6766

http://hdl.handle.net/11012/201372

3826-Article Text-34383-1-10-20150428