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Article
Publication date: 3 June 2021

Boban Melović, Marina Dabić, Milica Vukčević, Dragana Ćirović and Tamara Backović

The purpose of this paper is to investigate the perception of marketing managers in a transition country Montenegro with regards to marketing metrics. The paper examines…

Abstract

Purpose

The purpose of this paper is to investigate the perception of marketing managers in a transition country Montenegro with regards to marketing metrics. The paper examines the degree in which managers are familiar with the way marketing metrics are applied and how important they are in the process of making business decisions in a company operating in a Montenegro.

Design/methodology/approach

Data was collected during 2020 through a survey of 171 randomly selected companies and was analyzed using structural equation model and the statistical method of analysis of variance tests.

Findings

The obtained results show that managers are quite familiar with financial and non-financial metrics. Both groups are applied to a significant degree, as managers believe that these indicators provide valuable information needed during the decision-making process. Still, more emphasis is placed on the knowledge, implementation and importance of non-financial metrics compared to financial metrics. This is probably due to the specificities of the economic activities of the companies operating in Montenegro, as most of them are service companies, which is why non-financial metrics (such as consumer metrics) are the most important indicators when it comes to ascertaining the market position of the company. Additionally, in recent years the primary focus in Montenegro, as country that is still in the process of transformation from planned economy to a free-market form, has been placed on strengthening of competitiveness and advancing the market orientation of companies. This led to an increase in the importance that managers in transition countries attach to non-financial metrics.

Research limitations/implications

The fact that the survey only covers companies from one country is its limitation.

Practical implications

The obtained results will have a significant empirical contribution, which is reflected in providing guidelines for managers on how to improve the system of measuring and controlling marketing performance, all that to strengthen the competitiveness of the company, and can serve managers of hierarchy levels in a company as guidelines for making decisions on the implementation of marketing strategy and marketing metrics, to improve business performance, multi-context customer interaction, cost-saving and strengthen competitiveness.

Social implications

Obtaining necessary knowledge management and implementing marketing metrics are important conditions for consideration when it comes to the continuous monitoring and improvement of business results, increasing competitiveness and advancing the market position of the company.

Originality/value

The originality stems from the analysis of the interconnection that exists between marketing metrics and strategic decision-making, which is expected to be positively reflected in the development of society, i.e. strengthening the competitiveness of companies based on knowledge management achieved through the assessment of the degree of knowledge, the implementation and the significance of each of the metrics covered within this research in business decision-making processes. The paper provides insights into the extent to which managers understand the meaning of these indicators and are able to combine different marketing metrics to obtain more complex indicators, serving as necessary inputs when making strategic business decisions.

Details

Journal of Knowledge Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1367-3270

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Article
Publication date: 18 September 2009

Roger Bennett

The purpose of this paper is to examine the extent of the use of performance management metrics by UK theatre companies, the levels of importance attached to various types…

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2188

Abstract

Purpose

The purpose of this paper is to examine the extent of the use of performance management metrics by UK theatre companies, the levels of importance attached to various types of measures, and possible determinants of managerial perceptions of the importance of each category.

Design/methodology/approach

A model was constructed which hypothesised that the types of metrics regarded as most important by theatre managements depended on organisational identity, financial situation, environmental volatility, production diversity and visitor orientation. This was tested via a survey of 195 UK theatres.

Findings

A theatre's financial situation greatly influenced the categories of metrics that its management deemed to be important, exerting both a direct effect and indirect impacts. An organisation's “artistic identity” also affected the dimensions of the operations that its management sought to measure.

Research limitations/implications

The data were self‐reported; less than a majority of the sampling frame participated in the study; and managers in theatres that used few or no metrics may have been less likely to respond to the invitation to take part in the study. It was not possible within the confines of an already crowded questionnaire to explore the influences of various stakeholders on a theatre management's choice of metrics.

Practical implications

Environmental circumstances and managerial inclinations seemingly determined the metrics that were considered important, but the metrics involved were not necessarily those that should have been applied.

Originality/value

This is the first empirical study to determine the factors that cause theatre managements to prioritise the use of specific types of performance metrics and to explain variations in organisational behaviour in this regard.

Details

International Journal of Productivity and Performance Management, vol. 58 no. 7
Type: Research Article
ISSN: 1741-0401

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Article
Publication date: 1 May 2000

Sunny J. Baker

Strategic planning is as important as ever, and now it must be done faster than ever before. There are software programs that can help.

Abstract

Strategic planning is as important as ever, and now it must be done faster than ever before. There are software programs that can help.

Details

Journal of Business Strategy, vol. 21 no. 5
Type: Research Article
ISSN: 0275-6668

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Book part
Publication date: 13 November 2017

Robert Kozielski, Michał Dziekoński, Jacek Pogorzelski and Grzegorz Urbanek

The term ‘strategy’ is one of the most frequently used terms in business, and its application in marketing is particularly common. Company strategy, market strategy…

Abstract

The term ‘strategy’ is one of the most frequently used terms in business, and its application in marketing is particularly common. Company strategy, market strategy, marketing strategy, sales strategy, promotion strategy, distribution strategy, low pricing strategy – it would take a long time to list all of them. Although this term is so commonly in use, its definition is not as straightforward and it can be interpreted in different ways. In comparison with tactical decisions, strategy is much more significant for an organisation as it brings long-lasting consequences. It is implemented by higher level managers on a regular basis, and it is based on external, often subjective information, so decisions – especially at the time they are made – are difficult to evaluate.

Taking into consideration the fact that strategy refers to a long-term rather than a short-term period, strategic decisions serve as the basis for undertaking operational activities. However, marketing refers to the market and the competition. It is possible to claim that marketing strategy is trying to find an answer to the question to which path an organisation should follow in order to achieve its goals and objectives. If, for example, a company has a goal to generate a profit of PLN 1 million by selling 100,000 pieces of a product, the market strategy should answer at least the following two questions:

  1. Who will be our target group, for example, who will purchase the 100,000 pieces of the product?

  2. Why is it us from whom a potential buyer should purchase the product?

Who will be our target group, for example, who will purchase the 100,000 pieces of the product?

Why is it us from whom a potential buyer should purchase the product?

The target market will be defined if a reply to the first question is provided. The second question identifies the foundations of competitive advantage. These two issues, that is, target market and competitive advantage are the strategic marketing issues. You cannot change your target group unexpectedly while competitive advantage is the basis for changing decisions regarding prices, promotions and sales.

This chapter describes the measures of marketing activities which refer to strategic aspects and testify a company’s market position – the measures of the performance of target groups and competitive advantage. Readers’ attention should be also focused on the indices that are less popular in Poland and, therefore, may be underestimated. It seems that some of them, for example, the index of marketing resources allocation and the marketing risk index, provide a lot of valuable information and, at the same time, make it possible to show the value of marketing investments. Their wider use in the near future is only a matter of time.

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Abstract

Details

Mastering Business for Strategic Communicators
Type: Book
ISBN: 978-1-78714-503-0

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Article
Publication date: 7 October 2014

Mª Ángeles Oviedo-García, Miriam Muñoz-Expósito, Mario Castellanos-Verdugo and María Sancho-Mejías

– The purpose of this paper is to propose a comprehensive metric for customer engagement in Facebook, the top social networking site.

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4566

Abstract

Purpose

The purpose of this paper is to propose a comprehensive metric for customer engagement in Facebook, the top social networking site.

Design/methodology/approach

The approach is conceptual and it makes operative customer engagement concept in the specific context that is Facebook.

Findings

In the new dynamic business environment fostered by Internet, where customer value goes beyond what the customer spends on a brand or a firm, firms will be able to fine-tune their customer engagement strategy by means of the metric results and its evolution.

Research limitations/implications

The paper, which provides insight and a metric for customer engagement in Facebook, is a starting point for future conceptual and empirical research that might be conducted to further refine the proposed metric. The assessment of engagement achieved as a result of actions on Facebook will allow marketers to evaluate the efficiency of the action and, through its longitudinal evaluation, the fluctuation according to different posting strategies used, so managers can see whether engagement or disengagement is happening and then make decisions about which type of content generates better engagement.

Originality/value

The metric offered is unique, as it focuses on customer engagement on Facebook, and to the best of author’s knowledge, there is not any previous attempt to measure it.

Details

Journal of Research in Interactive Marketing, vol. 8 no. 4
Type: Research Article
ISSN: 2040-7122

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Article
Publication date: 1 March 2005

Birgit Weischedel, Sheelagh Matear and Kenneth R. Deans

Companies operating on the internet need appropriate metrics to make strategic marketing decisions. This paper applies established qualitative research methods to the…

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4921

Abstract

Purpose

Companies operating on the internet need appropriate metrics to make strategic marketing decisions. This paper applies established qualitative research methods to the online environment to evaluate how web managers generate and incorporate web metrics to inform strategic marketing decisions.

Design/methodology/approach

Initial theories were developed using a comprehensive literature review as well as exploratory interviews with New Zealand companies. Applying a mixed methodology, the exploratory research used interviews to assess current practice within the industry, refine the research questions and set up the research design. An in‐depth case study in the USA evaluated best practices and highlighted issues that affect the use of web metrics. The main data collection utilized case studies to generate the in‐depth information necessary for theory building.

Findings

The exploratory results showed that companies currently measure web site performance and consumer behaviour online but are still uncertain how best to use those metrics to inform strategic marketing decisions. The in‐depth case study showed how web metrics can be used when sufficient resources are available and measuring performance is a priority. Owing to the initially recognized low level of web metrics use, the main research was expanded purposively to selected participants who make greater use of web metrics.

Originality/value

This paper applies traditional qualitative research methods to the online environment. Analysis of the case studies and continued research will address the research gap and provide recommendations to web managers as well as attempt to illustrate best practices, solutions to issues and industry benchmarks.

Details

Qualitative Market Research: An International Journal, vol. 8 no. 1
Type: Research Article
ISSN: 1352-2752

Keywords

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Abstract

Details

Designing and Tracking Knowledge Management Metrics
Type: Book
ISBN: 978-1-78973-723-3

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Article
Publication date: 12 June 2007

Ilyoo B. Hong

The key purpose of the present research is to learn whether businesses use web site metrics to support business strategies and how web site metrics used differ by web site…

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1737

Abstract

Purpose

The key purpose of the present research is to learn whether businesses use web site metrics to support business strategies and how web site metrics used differ by web site categories.

Design/methodology/approach

A combination of a preliminary telephone survey and an e‐mail questionnaire survey was used to gather data. Potential respondents were contacted by phone to find firms measuring web site success. An e‐mail survey was conducted to learn how metrics were used to measure the success of a corporate web site. Responses were examined to study not only purposes and net benefits of measurement but also metrics measured.

Findings

Findings of the study indicated that a majority of businesses which took part in this survey were using the metrics more for operational than for strategic purposes. This observation is to some extent consistent with the normative view highlighted by the literature that organizations should measure how successfully their web sites support business objectives and, therefore, the web metrics to measure web site success should differ by web site categories.

Research limitations/implications

This explorative research is not based on a large sample, thereby limiting its academic contribution. Since the data analysis is over eight web site categories, future research will need to employ a sample large enough to eliminate any potential bias.

Practical implications

A key managerial implication is that businesses need to measure the success of their web site using web metrics tied to their business objectives, if they want their web site to effectively support business strategies.

Originality/value

This paper is the first attempt to explore the way that Internet‐dependent businesses measure the success of their web site via web metrics, for the purpose not only of observing some patterns between web metrics measured and site categories, but also of examining whether metrics were used for strategic or merely for operational purposes.

Details

Internet Research, vol. 17 no. 3
Type: Research Article
ISSN: 1066-2243

Keywords

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Book part
Publication date: 16 September 2017

Elizabeth J. Altman and Michael L. Tushman

Platform, open/user innovation, and ecosystem strategies embrace and enable interactions with external entities. Firms pursuing these approaches conduct business and…

Abstract

Platform, open/user innovation, and ecosystem strategies embrace and enable interactions with external entities. Firms pursuing these approaches conduct business and interact with environments differently than those pursuing traditional closed strategies. This chapter considers these strategies together highlighting similarities and differences between platform, open/user innovation, and ecosystem strategies. We focus on managerial and organizational challenges for organizations pursuing these strategies and identify four institutional logic shifts associated with these strategic transitions: (1) increasing external focus, (2) moving to greater openness, (3) focusing on enabling interactions, and (4) adopting interaction-centric metrics. As mature incumbent organizations adopt these strategies, there may be tensions and multiple conflicting institutional logics. Additionally, we consider four strategic leadership topics and how they relate to platform, open/user innovation, and ecosystem strategies: (1) executive orientation and experience, (2) top management teams, (3) board-management relations, and (4) executive compensation. We discuss theoretical implications, and consider future directions and research opportunities.

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