MASTERING METRICS July 2019

1. MASTERING METRICSJuly 2019 WEBINAR SESSIONDEEPA SHAH MCIM CHARTERED MARKETERTUTOR

2. OVERVIEW Your role as a Marketing Manager , you have been asked by your senior management team of your organization to produce a REPORT on the “The Impact of changing lifestyles of end-users on marketing strategy. The SMT is interested in what changes will need to be made to current metrics, to enable them to make informed decisions to meet the evolving needs of their end users in using their products or services.

3. OVERVIEW Changing Lifestyles are about consumer attitudes, values and behaviours. Change in lifestyle of the end user has been brought about by Climate Changes, Convenience (today’s consumers are looking for convenience e.g. no longer want to go to the shops to purchase want to purchase online as it is convenient), developments in technology (this is where end users have accessibility to information on the net to make a decision whether to purchase a product/service or not), ethics ( since information is accessible end users are now able to judge whether the product they are consuming is safe, what the company is saying is true e.g. peanut butter in Kenyan market faced some challenges 3months ago – information that was shared on the packaging was not true this therefore means the organisation is not being ethical).

4. YOUR ORGANIZATION The type of organization you use is open to you and you should discuss any creative approach that you feel is required with the tutor. The approach taken should be outlined within the organization overview. The assignment is such that it can be tailored to any organization of any size. This assignment has been developed so that it can be applied to all organizations, sizes and sectors.

5. TASK 1 It is important to clearly state the organizations name, key information such as size, industry, market data, range of products or services, and its main competitors. A better part of this section should focus on the customer base and its current ability to respond to evolving end user-lifestyles ( 1 side of an A4 page) This task students can consider using a framework such as MC KINSEY 7s , using this factors candidates should be able to describe what has influenced the choice of the current set of marketing metrics used by the organisation. In addition one needs to show whether these metrics are aligned to marketing objectives, strategies and outcomes. ( 500 words) Candidates should appraise the current marketing metrics in terms of their robustness, reliability and validity in relation to changing end user lifestyle. Appraise any identified challenges in using the current set of existing metrics for taking changing end user lifestyle into account. Bring out the strengths and weakness of the metric, show whether the data gather is it able to give data on changing end user lifestyle, if yes justify it if no justify it.(750 words)

6. TASK 2 Select Two measurement techniques that is most relevant to measuring changes in end user customer lifestyle. E.g. Strategic Metrics ( the metrics used are market share and relative market share, market growth, market demand, market penetration) Operational and Tactical Metrics ( this looks at the efficiency and effectiveness of marketing activities; metrics used are product metrics, pricing metrics, promotion metrics) outcome based metrics , predictive metrics. Note the TWO measurement techniques have not been used previously by the chosen organization and both should be able to support gathering information on changing end user lifestyles. (900 words) Candidates should present their data in a form of a graph or pie chart and should relate to the Two measurement techniques mentioned in task 2A. Include a range of ways in which data should provide insight into changing end user lifestyles. E.g. data to illustrate why these changes are occurring, is it seasonal etc. The dashboard should require little supporting narrative. (550 words) Candidates should recommend automated techniques that would be appropriate for the metrics in the prototype dashboard in task 2B. Techniques for monitoring changes in end user lifestyles such as forecasting changes, setting levels for trigger points, attribution modeling etc. The dashboard could provide insight into where the events/touch points are in the end users journey and then assign values to these. ( 300 words)

7. TASK 3 Key is to demonstrate knowledge of data sources( both online and offline) that are relevant to changes in end user lifestyles. E.g. customer feedback surveys, email and customer contact forms, social media etc Data on marketing campaigns, dashboard information, primary and secondary research. The strengths and limitations of chosen data sources on changing end user lifestyle should be assessed in relation to formulating marketing strategy. (400 words) Describe the potential issues of merging new and existing data e.g. duplication of data sets, how the data was collected, the reliability and validity of data , data may get lost in the merging. (400 words) Evaluate how metric analysis on changing end user lifestyles could contribute to marketing strategy. Advantages and disadvantages of real time data, traditional marketing metrics and digital metric integration, reliance on dashboard information, and the use of statistical analysis in strategic decision making. (950 words)