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Marketing Metric Audit Protocol (MMAP) The Marketing Metric Audit Protocol (MMAP) is a formal process that connects marketing activities to financial performance through validated intermediate metrics. [5] MMAP ensures that marketing metrics meet the standards of reliability, predictive validity, sensitivity, and transparency.
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
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Performance is a measure of the results achieved. Performance efficiency is the ratio between effort expended and results achieved. The difference between current performance and the theoretical performance limit is the performance improvement zone. Another way to think of performance improvement is to see it as improvement in four potential areas:
It is a simple tool to gauge the success of measurable marketing activities against various marketing objectives (e.g., incremental revenue, brand awareness or brand equity). With this knowledge, marketing investments can be redirected away from under-performing activities to better performing marketing media.
More broadly, marketing managers work to design and improve the effectiveness of core marketing processes, such as new product development, brand management, marketing communications, and pricing. Marketers may employ the tools of business process re-engineering to ensure these processes are properly designed, and use a variety of process ...
Marketing Creative: Even without a change in strategy, better creatives can improve results. Without a change in strategy, AFLAC was able to achieve stunning results with its introduction of the Duck campaign. With the introduction of this new creative concept, the company growth rate soared from 12% prior to the campaign to 28% following it.
Performance-based advertising is becoming more common with the spread of electronic media, notably the Internet, where it is possible to measure user actions resulting from advertisement. [ citation needed ] Performance marketing is different from Brand Marketing which focuses on awareness, consideration, and opinions among target consumers.