Hanssens & Pauwels (2016): Demonstrating the Value of Marketing
11 important questions on Hanssens & Pauwels (2016): Demonstrating the Value of Marketing
Which performance metrics are used by marketing (which do not highly correlate with each other)?
- Attitudinal (e.g., brand awareness)
- Behavioural (e.g., brand loyalty)
- Financial (e.g., sales revenue)
Ambiguity arises when different performance metrics give different outcomes, what are the 6 consequences of ambiguity for marketing practice?
- The objectives of marketing differ widely
- Marketing effectiveness ≠ marketing efficiency
- Hard/soft and offline/online metrics are not integrated
- Response models and experiments are rarely combined
- Risk in marketing receives little consideration
- Analytic insights are not communicated effectively to drive decisions
Which 4 guidelines are needed in order to demonstrate the value of marketing?
- Reconciling (overeenstemmen) different marketing objectives
- Distinguishing between marketing effectiveness and efficiency
- Distinguishing between marketing budget setting and budget allocation
- Defining the scope of marketing
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Which aspects are dominant succes metrics for brands in early phase and in later stages in the category life cycle?
- Early phase: Consumer liking and distribution
- Later stages: Pricing and advertising
Which aspect matters the most in mature markets and which one in emerging markets?
- Mature markets: Brand liking
- Emerging markets: Brand consideration
In which situation is the trade-off between effectiveness and efficiency particularly important?
What does Farris et al. propose with regards to effectiveness and efficiency goals?
What are the two types of managerial decisions?
- Budget (investment)
- Allocation (execution)
Which focus benefits the organization’s accountability and profitability but rarely creates sustained business growth?
The deviation between actual and predicted performance can be decomposed into 3 variances, which are those?
- Planning variance: Incorrect market response assumptions
- Execution variance: Deviations of actual marketing actions from planned ones
- Reaction variance: Misanticipation of competitive reactions
What are the 3 requirements for internally communicating the value of marketing?
- Communicating multiple objectives in marketing dashboards
- Adapting communication to the style of the decision maker
- Adapting communication to the marketing organization
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
