본문 바로가기
KERD
논문KCI 등재

Counting What Will Count: How to Empirically Select Leading Performance Indicator

Koen Pauwels|Amit Joshi
경영경제연구소 (management & economic research institute)|2011.12|아태비즈니스연구 ((APJB) Asia Pacific Journal of Business)|제2권 제2호|pp. 1-35

0

조회

0

다운로드

0

인용

0

참고문헌

키워드

MetricsLeading IndicatorsMarketing Dashboards

초록

Facing information overload in today's complex environments, managers look toa concise set of marketing metrics to provide direction for marketing decisionmaking. While there have been several papers dealing with the theoretical aspectsof dashboard creation, no research creates and tests a dashboard using scientifictechniques. This study develops and demonstrates an empirical approach todashboard metric selection. In a fast moving consumer goods category, this researchselects leading indicators for national-brand and store-brand sales and revenuepremium performance from 99 brand-specific and relative-to-competition variablesincluding price, brand equity, usage occasions, and multiple measures of awareness,trial/usage, purchase intent, and liking/satisfaction. Plotting impact size andwear-in time reveals that different kinds of variables predict sales at distinct leadtimes, which implies that managerial action may be taken to turn the metrics aroundbefore performance itself declines.

Abstract

Facing information overload in today's complex environments, managers look toa concise set of marketing metrics to provide direction for marketing decisionmaking. While there have been several papers dealing with the theoretical aspectsof dashboard creation, no research creates and tests a dashboard using scientifictechniques. This study develops and demonstrates an empirical approach todashboard metric selection. In a fast moving consumer goods category, this researchselects leading indicators for national-brand and store-brand sales and revenuepremium performance from 99 brand-specific and relative-to-competition variablesincluding price, brand equity, usage occasions, and multiple measures of awareness,trial/usage, purchase intent, and liking/satisfaction. Plotting impact size andwear-in time reveals that different kinds of variables predict sales at distinct leadtimes, which implies that managerial action may be taken to turn the metrics aroundbefore performance itself declines.

참고문헌 (73)

  1. Ailawadi, Kusum, "Revenue Premium as an Outcome Measure of Brand Equity", Journal of Marketing, 67, pp.1~17 (2003)
  2. Aldrin, Magne, "Reduced Rank Regression", Encyclop edia of Environmetrics, 3, pp.1724~1728 (2002)
  3. Ambler, Tim, "Marketing and the Bottom Line" (2003), Financial Times Prentice Hall
  4. Anderson, T. W., "Estimating linear restrictions on regression coefficients for multivariate normal distributions", Annals of Mathematical Statistics, 22, pp.327~351 (1951)
  5. Armstrong, Scott J., "Principles of Forecasting:A Handbook for Researchers and Practitioners", International Series in Operations Research & Management Science, 30 (2001), Springer
  6. "What will be different? The MASB Vision" (2007)[URL]
  7. Blattberg, Robert C, "Price-Induced Patterns of Competition", Marketing Science, 8(4), pp.291~309 (1989)
  8. Blattberg, Robert C., "Database Marketing:Analyzing and Managing Customers, International Series in Quantitative Marketing" (2008), Springer
  9. Churchill, Gilbert A. Jr, "A Paradigm for Developing Better Measures of Marketing Constructs", Journal of Marketing Research, 16(1), pp.64~73 (1979)
  10. Clark, Bruce H., "Behind the Wheel", Marketing Management, 15(3), pp.18~23 (2006)
  11. CMO Council, "Chief Marketing Officers Council's Marketing Measures Performance Audit, White Paper" (2004)
  12. Dekimpe, M., "Sustained Spending and Persistent Response: A New Look at Long-Term Marketing Profitability", Journal of Marketing Research, 36, pp.397~412 (1999)
  13. Draper, N., "Applied Regression Analysis" (1981), John Wiley & Sons, Inc
  14. Granger, Clive W., "Investigating Causal Relations by Econometric Models and Cross-spectral Methods", Econometrica, 37(3), pp.424~438 (1969)
  15. Granger, Clive W., "Forecasting Economic Time Series" (1986), Harcourt Brace Jovanovich
  16. Hanssens, Dominique M., "Order Forecasts, Retail Sales and the Marketing Mix for Consumer Durables", Journal of Forecasting, 17, pp.327~346 (1998)
  17. Hanssens, Dominique M., "Market Response models: Econometric and Time Series Analysis" (2001), Kluwer Academic Publishers
  18. Hocking, R. R., "The Analysis and Selection of Variables in Linear Regression", Biometrics, 32(1), pp.1~49 (1976)
  19. "Making the Perfect Marketer" (2004)[URL]
  20. Izenman, "Reduced-Rank regression for the multivariate linear model", Journal of Multivariate Analysis, 5, pp.248~264 (1975)
  21. Judd, Charles M., "Data Analysis: A Model Comparison Approach" (1989), Harcourt Brace Jovanovich
  22. Keller, Kevin Lane, "Conceptualizing, Measuring, and Managing Customer-Based Brand Equity", Journal of Marketing, 57, pp.1~22 (2003)
  23. Kohavi R., "A Study of Cross -Validation and Bootstrap for Accuracy Estimation and Model Selection", Proceedings of the Fourteenth International Joint Conference on Artificial I, pp.1137~1143 (1995), Morgan Kaufmann
  24. Krauss, Michael, "Marketing Dashboards Drive Better Decisions", Marketing News, 39(16), pp.1~ (2005)
  25. Kumar, Nirmalya, "Private Label Strategy: How to meet the Store Brand Challenge" (2007), Harvard Business School Press
  26. Kumar, V., "Knowing what to sell, when, and to whom", Harvard Business Review, 84(3), pp.131~137 (2006)
  27. Lapointe, P., "Marketing by the Dashboard Light", pp.2005, Marketing NPV
  28. LaPointe, Pat, "For Better ROI, Think Sailing, Not Driving", Brandweek, 47(5), pp.17~18 (2006)
  29. Lavidge, Robert J., "A Model for Predictive Measurement of Advertising Effectiveness", Journal of Marketing, 25, pp.59~62 (1961)
  30. Leamer, Edward, "Sensitivity Analyses Would Help", The American Economic Review, 75(3), pp.308~313 (1985)
  31. Leeflang, Peter S. H., "On the Predictive Power of Market Share Attraction Models", Journal of Marketing Research, 21(2), pp.211~215 (1984)
  32. Lehmann, Donald R., "Marketing Metrics and Financial Performance", Marketing Science Institute Monograph, ~ (2006)
  33. Levin, Nissan, "Continuous Predictive Modeling – a Comparative analysis", Journal of Interactive Marketing, 12(2), pp.5~22 (1998)
  34. Little, John D. C., "Decision Support Systems for Marketing Managers", Journal of Marketing, 43(3), pp.9~26 (1979)
  35. MarketingNPV, "Timken Rolls Out a Marketing Dashboard for Industrial Bearing Group", 3(1), pp.3~6 (2005)
  36. Marketing Science Institute, "2006-2008Research Priorities: A Guide to MSI Research Programs and Procedures", ~ (2006)
  37. McCracken, Grant, "Culture and consumption : A theoretical account of the structure and movement of the cultural meaning of consumer goods", Journal of Consumer Research, 13, pp.71~84 (1986)
  38. Miller, A., "Subset Selection in Regression" (1989), Chapman and Hall
  39. Meiri, Ronen, "And The Winner Is…Stepwise Regression", Extended Summary of the paper presented at the Direct Marketing Education Foundation Conference (2005)
  40. Mintzberg, H., "The Nature of Managerial Work" (1973), Harper & Row, Myers and Mullet
  41. Naert, Philippe A., "On the Prediction Power of Market Share Attraction Models", Journal of Marketing Research, 18(2), pp.146~153 (1981)
  42. Neslin, Scott, "Defection Detection:Measuring and Understanding the Predictive Accuracy of Customer Churn Models", Journal of Marketing Research, 43, pp.204~211 (2006)
  43. Nijs, Vincent R., "The Category Demand Effects of Price Promotions", Marketing Science, 20(1), pp.1~22 (2001)
  44. Nijs, Vincent, "Retail-Price Drivers and Retailer Profits", Marketing Science, 26(4), pp.473~487 (2007)
  45. Palda, Kristian S., "The Hypothesis of a Hierarchy of Effects : A Partial Evaluation", Journal of Marketing Research, 3(1), pp.13~24 (1966)
  46. Pauwels Koen, "How Dynamic Consumer Response, Competitor Response, Company Support and Company Inertia Shape Long-term Marketing Effectiveness", Marketing Science, 23(4), pp.596~610 (2004)
  47. Pauwels, Koen, "Dashboards as a Service : Why, What, How and What Research is Needed?", Journal of Service Research, 12(2), pp.175~189 (2009)
  48. Pauwels, Koen, "The Long-term Effects of Price Promotions on Category Incidence, Brand Choice, and Purchase Quantity", Journal of Marketing Research, 34, pp.421~439 (2002)
  49. Pauwels, Koen, "New Products, Sales Promotions and Firm Value: The Case of the Automobile Industry", Journal of Marketing, 68, pp.142~156 (2004)
  50. Pauwels, Koen, "Who benefits from store brand entry?", Marketing Science, 23(3), pp.364~390 (2004)
  51. Petersen, Andrew J., "Choosing the Right Metrics to Maximize Profitability and Shareholder Value", Journal of Retailing, 85(1), pp.95~111 (2009)
  52. Pesaran, Hashem H., "Generalized Impulse Response Analysis in Linear Multivariate Models", Economic Letters, 58(1), pp.17~29 (1998)
  53. Ray, Michael L., "New Models for Mass Communication Research", pp.147~176 (1973), Sage Publishing
  54. Reibstein, David, "Marketing Dashboards: A Decision Support System for Assessing Marketing Productivity", presentation at the Marketing Science Conference (2005)
  55. Reinsel, Gregory C., "Multivariate Reduced-Rank Regression" (1998), Springer-Verlag
  56. Roecker, Ellen B., "Prediction Error and Its Estimation for Subset-Selected Models", Technometrics, 33(4), pp.459~468 (1991)
  57. Rust, R. T., "Measuring Marketing Productivity : Current Knowledge and Future Directions", Journal of Marketing, 68(4), pp.76~89 (2004)
  58. Rust, Roland T., "Should Emotional Advertising Response Models Reflect Brain Physiology?", Proceedings of the American Academy of Advertising, NR204(7) (1985)
  59. Simon, "Applying information technology to organization design", Public Administration Review, pp.268~278 (1973)
  60. Slotegraaf, Rebecca, "The impact of brand equity and innovation on the long-term effectiveness of promotions", Journal of Marketing Research, 45, pp.293~306 (2008)
  61. Smith, Robert E., "Attitude-Behavior Consistency : The Impact of Product Trial versus Advertising", Journal of Marketing Research, 20(3), pp.257~267 (1983)
  62. Srinivasan, Shuba, "Demand-Based Pricing Versus Past-Price Dependence: A Cost-Benefit Analysis", Journal of Marketing, 72, pp.15~27 (2008)
  63. Do Mindset Metrics Explain Brand Sales?, "Srinivasan, Shuba", Marketing Science Institute, ~, pp.Report 08-119 (2009)
  64. Steckel, Joel, "Cross-Validation Regression Models in Marketing Research", Marketing Science, 12(4), pp.415~427 (1993)
  65. Stewart, David W., "How Marketing Contributes to the Bottom Line", Journal of Advertising Research, pp.94~205 (2008)
  66. Stone, M., "Continuum Regression: Cross-Validated Sequentially Constructed Prediction Embracing Ordinary Least Squares, Partial Least Squares and Principal Components Regression", Journal of the Royal Statistical Society. Series B (Methodological), 52(2), pp.237~269 (1990)
  67. Van Bruggen, "Broadening the Perspective on Marketing Decision Models", International Journal of Research in Marketing, 17(2-3), pp.159~168 (2000)
  68. Van Heerde, Harald, "Winners and Losers in a Major Price War", Journal of Marketing Research (2008)
  69. Wathieu, Luc, "The Asymmetric Effect of Brand Positioning on Post-Promotion Preference", Journal of Consumer Research, 31(3), pp.652~657 (2004)
  70. Webster, Jr., "The Decline and Dispersion of Marketing Competence", Sloan Management Review, 46(4), pp.35~43 (2005)
  71. Wierenga, B., "The Success of Marketing Management Support Systems", Marketing Science, 18(3), pp.196~207 (1999)
  72. Wilkinson, G. N, "Statistical estimation in enzyme kinetics", Biochemical Journal, 90, pp.324~332 (1961)
  73. Wind, Yoram, "Marketing as an engine of business growth: a cross-functional perspective", Journal of Business Research, 58(7), pp.863~873 (2005)

관련 논문AI추천

Can Brand Equity Explain Excess Behavioral Loyalty?정상욱한국마케팅학회 · 아시아마케팅저널2015 · 제17권 제1호A Two-Stage Model of the Effects of Keyword Searches on SalesCho, Jihoon, Park, Chan Su한국마케팅학회 · 아시아마케팅저널2008 · 제2권 제2호The Effect of Consideration Set on Market Structure김준범한국마케팅학회 · 아시아마케팅저널2020 · 제22권 제2호Launch timing and launch activities proficiency as antecedents to new product performanceC. Anthony Di Benedetto, Gaia Rubera, Roger Calantone한국마케팅과학회 · Journal of Global Scholars of Marketing Science(마케팅과학연구)2012 · 제22권 제4호Drivers of Brand Acquisition Success: A Focus on Value Creation Following Acquisition Events오한모한국기업경영학회 · 기업경영연구2013 · 제20권 제4호Spillover Effects of Temporary Price Cuts Evidence from U.S. Scanner Data김규일, 김현철한국계량경제학회 · 계량경제학보2016 · 제27권 제1호

이 간행물의 다른 논문 (4건)

The Diffusion and Use of RFID Technology in India조남재, Nityesh Bhattpp. 36-60Managing Credit Risk in Banks: A Study of Credit Default SwapsSuresh Chandra Biharipp. 61-78고용실태조사를 통한 무역인력양성방안- 인천지역 무역관련업체를 중심으로 -라공우pp. 79-100중국 크루즈관광 산업정책에 관한 연구왕명명, 류환경pp. 101-118
원문 보기