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KPI information boards. A performance indicator or key performance indicator (KPI) is a type of performance measurement. [1] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [2]
Apart from metrics, a specific action plan allows a marketing plan to better measure results and that criteria are met. Elements of marketing performance that may be tracked include sales analysis, market share analysis, expense analysis, [11] and financial analysis (including figures such as profit, return on investment and contribution).
Academic articles that provide critical reviews of performance measurement in specific domains are also common—e.g. Ittner's observations on non-financial reporting by commercial organisations,; [10] Boris et al.'s observations about use of performance measurement in non-profit organisations, [11] or Bühler et al.'s (2016) analysis of how external turbulence could be reflected in ...
Since "the required frequency changes with the product and the competitive climate it is in", [2] the purpose of the GRP metric is to measure impressions compared to the number of people in the target for an advertising campaign. [3] GRP values are commonly used by media buyers to compare the advertising strength of components of a media plan.
Return on marketing investment (ROMI), customer acquisition costs, and retention rates are examples of commonly employed marketing accountability metrics. [2] Marketing Accountability was the subject of a report published in 1997 by Financial Times Management Reports [3] It investigated a widespread problem that consultants McKinsey & Co. had ...
Measures – also called metric or key performance indicators (KPIs) Spotlight indicators – red, yellow, or green symbols that provide an at-a-glance view of a measure's performance. Each of these sections ensures that a Balanced Scorecard is essentially connected to the businesses critical strategic needs.
The marketing metric audit protocol (MMAP) is the Marketing Accountability Standards Board's formal process for connecting marketing activities to the financial performance of the firm. The process includes the conceptual linking of marketing activities to intermediate marketing outcome metrics to cash flow drivers of the business, as well as ...
The Marketing strategy is a plan that shows how the firm's marketing activities will help to achieve the overall strategic goals. Marketing management is focused on developing the marketing program or Marketing mix (also known as the 4Ps ) and is concerned with the implementation of specific action plans designed to achieve objective ...