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Def. Marketing Perfomance
Evaluation of marketing actions and decisions with respect to their economic profit contribution
- Understand the effects of marketing
- Economic evaluation of marketing decisions
- Decision support to make optimal decisions
Task of MPM
Decision Making
- Strategic: Fundamental decisions with long term horizon
- Tactical: Adaptive decisions wit a short term horizon
Integration
-> Integrate goals and information of different stakeholders
- Within the company
- Outside the company
Communication
- Focus informations on economic variables
- Create a basis for communication with other divisions escpecially top management
What is NOT MPM
- Marketing Controlling
- Marketing Planning
- Capital Budgeting
- Operations Research
- Market Research
Def. Marketing Controlling
Planning and controlling of Marketing activities in short run
Def. Market Research
Systematic generation and analysis of information about markets and consumers
Def. Marketing Performance Management
Integrative marketing management approach that provides methods, metrics and empirical findings about economic impact of marketing actions.
Challenges of MPM
- Marketing actions are customer-oriented and carry over their full impact in the future
- Economic assessment of customers´behaviour towards marketing activities can only be stochastic and under uncertainty
Theoretical and conceptual foundation of MPM
Business Disciplines:
- Marketing
- Corporate Finance
- Management Accounting
- Financial Reporting
Supporting Sciences
- Economics
- Psychology
- Statistics
- Mathematics
Theories
- Attitude formation
- Preference formation
- Stochastic consumer behavior models
- Market Response Models
Paradigms & Principles
- Optimization principle
- Time Value of money
- Homo Oeconomicus
- Markt efficiency
- S-O-R paradigm
Def. Model
Simplified, cognitive, linguistic or material reflection of a objective system (original) satisfying certain similarity conditions
Types of a model
Isomorphic : Model and original are structurally identical
Homomorphic : Model and original are structurally analog
Marketing Value Chain
Marekting Value Chain with stages
General Rule in the Calculation of cash flow
- Re-calculation of non-cash expanses and revenue (accruals and deferral)
- Focus only on cash relevant incidents
- Suspend freedom in choice of valuation method