MMM147-Measuring Marketing Performance

Module Provider: Marketing and Reputation
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2020/1

Module Convenor: Dr Irute Karanicholas

Email: irute.daukseviciute@henley.ac.uk

Type of module:

Summary module description:

The pressure to measure marketing performance is as high as never before, reported by a number of practitioner and academic sources. The more senior roles in marketing, such as Marketing Manager, Marketing Director and CMO, would in one way or another require to deal with measuring marketing performance. Yet marketers are struggling to justify their value for a number of reasons.  



Measuring marketing performance has in fact been a daunting task to both practitioners and academics alike and remains so still. More efforts are needed to tackle this problem and prepare for the jobs in marketing. 



This module provides the essentials of what someone in a role of a marketing manager or similar needs to know and, importantly, be able to do, about measuring marketing performance. 


Aims:

The module aims to develop financial acumen with specific reference to the three main financial statements and key financial ratios, to enable a critical and more quantitative approach to marketing. This module also intends to increase confidence in measuring marketing performance, in order to become an ever more valuable member of an organisation. 


Assessable learning outcomes:


  1. Understand the importance of measuring marketing performance at organisations and the implications of not doing so  

  2. Discuss challenges in measuring marketing performance, focusing on return and costs  

  3. Discuss various marketing metrics, both traditional and digital 

  4. Measure efficiency and effectiveness of marketing activities 

  5. Measure marketing performance while integrating both tr aditional and digital marketing activities  

  6. Allocate marketing budget across marketing channels and activities effectively 

  7. Critically assess marketing results and be able to act upon them 

  8. Develop ability to justify marketing value

  9. Understand the importance for general and marketing management of the three financial statements (profit and loss, a balance sheet and a cash flow statement)

  10. Analyse financial statements and the connection between them

  11. Discuss and critically interpret financial statements across a variety of businesses to gain confidence in using data to make strategic and tactical business decisions

  12. Learn practical techniques of financial analysis and how to construct forecast financial statements. 


Additional outcomes:

The module is an opportunity for students to develop broader range of work-based skills, such as:




  • Working with uncertainty

  • Responding positively to a challenge

  • Building resilience

  • Strengthening communication

  • Presenting and visualising information effectively.


Outline content:


  • Challenges and trends in measuring marketing performance

  • Understanding business financials: the three major financial statements:

    1. The Balance Sheet (Statement of Financial Position)

    2. The Income Statement (Profit or Loss Statement)

    3. The Cash Flow Statement



  • Marketing planning and budgeting

  • Marketing metrics, including traditional and digital

  • Measuring return on marketing

  • Calculating marketing costs

  • Marketing dashboard

  • And may include any other relevant topics on measuring marketing performance


Brief description of teaching and learning methods:

Variety of teaching and learning methods shall be used, these include but are not limited to: lectures, tutorials, workshop(s), work based assignments, feedback in class and outside the class.


Contact hours:
  Autumn Spring Summer
Lectures 20
Tutorials 8
Guided independent study:      
    Wider reading (independent) 35
    Wider reading (directed) 30
    Advance preparation for classes 40
    Preparation for tutorials 7
    Preparation of practical report 50
    Reflection 10
       
Total hours by term 200 0 0
       
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Report 40
Practical skills assessment 60

Summative assessment- Examinations:

No examination


Summative assessment- Coursework and in-class tests:

Report: Individual assessment equivalent of 2,000 words.



Practical skills assessment (60%) consists of 2 elements:




  1. Individually performed case study (20%).

  2. Team written assignment equivalent of 2,500  (40%). 


Formative assessment methods:

There will be opportunities for formative assessments during lectures and tutorials in particular, eg., you will receive formative feedback for your return on marketing calculations during tutorials, to help support preparation of your practical skills assessment.


Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

A minimum mark of 50% 


Reassessment arrangements:

By individual project only.


Additional Costs (specified where applicable):

Last updated: 27 August 2020

THE INFORMATION CONTAINED IN THIS MODULE DESCRIPTION DOES NOT FORM ANY PART OF A STUDENT'S CONTRACT.

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