Summary
Summary and accountability questions
- Course
- Institution
The document is based on presentations held in the class, however it is based on "Marketing and Accountability" by Rien Hummel.
[Show more]
Seller
Follow
hannahfitting2001
Content preview
Accountability Exam Summary1. Exam Focus
- No book required: The exam involves analyzing a case study where something went
wrong. You will need to identify what went wrong, explain how improvements can be made,
and show how to implement those improvements using the PDCA cycle.
- Key concepts: Return on Investment (ROI), click/view KPIs, marketing accountability,
organizational goals (including CSR), and the Input, Throughput, Output (ITO) model will be
essential for understanding and evaluating the case.
- First slide for exam: The test will emphasize the application of these concepts to evaluate a
business case and suggest improvements.
2. PDCA Cycle (Plan, Do, Check, Act)
- Plan: Set goals, strategize, and allocate resources.
- Do: Implement marketing strategies, campaigns, or activities.
- Check: Measure the outcomes and evaluate them against the goals (using KPIs such as ROI,
views, and clicks).
- Act: Use the insights from the evaluation to adjust strategies and improve the process for
the next cycle.
The PDCA cycle helps in continuously improving marketing activities by analyzing
performance and making data-driven decisions.
3. KPIs and Metrics
- Return on Investment (ROI):
ROI = (Revenue - Investment) / Investment * 100
- ROI is a critical metric for measuring the effectiveness of marketing efforts such as
launching a new website or other marketing activities.
- It measures how much return you are getting relative to the cost of the investment.
- Views/Clicks: These KPIs measure user engagement with digital marketing efforts (e.g.,
how many people viewed the website or clicked on a specific ad). Tracking these is essential
for determining marketing success and areas for improvement.
, 4. Marketing Accountability
- Definition: Accountability in marketing means being able to justify decisions and planned
activities and making them measurable.
- Components of Accountability:
1. Before implementation: Justify why decisions are made, such as why specific marketing
strategies are chosen.
2. During and after implementation: Analyze the relationship between the marketing
activities and the results, whether successful or not. Identify points for improvement for
future campaigns or marketing cycles.
- Why 100% Accountability is Unattainable: Human behavior, market dynamics, and
external factors are unpredictable, making it impossible to guarantee marketing outcomes.
However, striving for accountability improves the efficiency of marketing activities.
5. Input, Throughput, and Output (ITO) Model
The ITO model breaks down the marketing process into three core phases:
- Input: Refers to the resources allocated for marketing activities, such as the budget,
manpower, technology, etc.
- Throughput: The activities carried out to implement marketing strategies, including
campaigns, customer engagement, and promotions.
- Output: The results from the marketing activities, which can be measured in terms of sales,
brand awareness, customer acquisition, or other metrics.
The ITO model emphasizes the need to balance input (resources) with output (results).
Evaluating throughput allows for analysis of how marketing activities contribute to
achieving objectives.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller hannahfitting2001. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.10. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81633 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now