Level: Diploma in Professional Marketing. Module: Mastering Metrics. Please refer to the December 2014 assessment. Module report

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1 Module report Level: Diploma in Professional Marketing Module: Mastering Metrics Please refer to the December 2014 assessment This was the first session for Mastering Metrics. The overall pass rate for this assessment was good and reflective of the standard of the submissions received. The assignment comprised three compulsory tasks, worth a total of 100 marks; ten of these marks were allocated to format and communication of information. Many candidates displayed clear understanding of marketing metrics and their use; applying this well to the context of their chosen organisation and basing their content on recognised and credible theories and concepts. Good evaluation and linkages of elements throughout the tasks was provided by stronger candidates, building on content throughout the report to provide a clear recommendation for the use of appropriate marketing metrics for growth within the organisation. Unfortunately, not all candidates provided strong evaluation, many reporting in a very factual, narrative manner without application to the context required. Critical evaluation was often very weak or lacking completely. The main concern with many submissions was the lack of any quantified data in Task 2, meaning that there was no analysis of data to inform the dashboards. It is essential that marketers are able to analyse quantitative data to demonstrate the effectiveness of their actions, which was a requirement here. Those who did analyse data typically presented good dashboards; however, those who did not often provided dashboards that were bland and did not contain content to demonstrate the effectiveness of marketing activity. Detailed and justified recommendations for metrics to use in the future were included by many candidates, demonstrating good management and monitoring skills to enable challenges to be met and growth opportunities to be taken. Task Task 1 Strengths Many candidates successfully applied the concepts and definitions of marketing metrics to the context of their chosen organisations, identifying and explaining well the role of marketing metrics and how they apply to making marketing decisions. The relationships between marketing and other functions in the organisation were covered well by stronger candidates, explaining the types of communications and the quality of the relationships,

2 linking this to the use of metrics and cross-functional working to generate and use metrics. Stronger candidates clearly explained the effectiveness of marketing metrics utilised within the chosen organisation, evaluating the metrics used in an applied manner. The most successful content for this task linked the elements together to demonstrate the effectiveness of metrics in the organisation for making marketing decisions based on data inputs from other business functions. Task 2 Stronger answers to this task identified both internal and external factors from the marketing environment, which were significant to the chosen organisation, affecting the ability of the organisation to conduct its activities. Clear linkages were made between the marketing factors and decision making in the organisation to demonstrate the restrictions and/or opportunities created, relating these to other business functions and the relationships discussed in Task 1. For the second element, stronger candidates presented and analysed quantified data based on metrics identified in Task 1, using the analysis to demonstrate trends and the current situation of marketing activities. Dashboards were presented with good and appropriate graphics to clearly indicate the current situation of marketing activities and results in areas relating to the factors affecting the organisation. For the final element of the task, stronger answers gave clear indication of the metrics appropriate to use for future growth and challenges for the organisation, reflecting on the data available and that which would help to provide additional information to inform marketing decisions through critical analysis. Task 3 Advantages and disadvantages of using marketing metrics were justified in the context of the chosen organisation, with clear basis from the contents of previous tasks in relation to growth and challenges from the marketing factors determined in Task 2. Stronger answers for the second element of the task displayed a clear understanding of the use of marketing research, identifying appropriate methods to gain information to support decision making, linking this to previous content. Clear and justified recommendations for appropriate metrics to use within the chosen organisation were made in stronger answers. These recommendations built on the content of the final element of Task 2, in particular to demonstrate the metrics that would enable decisions to be made for growth and challenges.

3 The final element was handled well by many candidates who linked management roles from multiple business functions to demonstrate the responsibilities for future decisions. The appropriateness of using marketing metrics to inform the decision making process in the organisation, across business functions, was covered with specific application to the chosen organisation by stronger candidates. Many candidates successfully applied models, such as the Balanced Scorecard, to the final element of the task. Format and communication Strengths for format and presentation were clear headings and subheadings with professional presentation; making full use of the space available whilst following the rules given in terms of font and margin sizes. Task Weaknesses Recommendations Task 1 Many weaker candidates discussed the role of metrics purely from a theoretical perspective without reference or application to the context of their chosen organisation. Limited theory was included by some candidates, with some not including any at all to underpin the content they provided. In some cases, the theory was from unverified internet sources. Relationships with other business functions within the organisation did not include any specific areas within the organisation, considering them from a very generic basis. The quality of the relationship was not included by some candidates and no linkage was made to the relationships and the provision of data for marketing metrics. Content should always be applied to the context of the chosen organisation for all areas of tasks set. Especially where requested, theory from reputable sources must be included by candidates to provide a basis for application to context. When discussing relationships with other functions the quality of the relationship, rather than just the transactions between the functions, should be included.

4 Task 2 Some candidates did not discuss specific marketing metrics for the final section, concentrating on financial aspects without linking those to the potential marketing use of the data provided. Significant marketing factors in weaker papers largely covered basic elements of the marketing mix and how the elements were being used within the organisation. There was often a lack of evaluation of the factors, with them being presented in a narrative form only without considering the impact of them on marketing or other business functions. A surprisingly large percentage of candidates did not include any numerical data and therefore no analysis of data for the second element of this task. This is a marketing qualification so metrics are almost always likely to be expected to include a marketing element or focus. Command words, such as determine and evaluate, must be followed to gain marks that are available within tasks. Similarly, if it is requested to apply elements to areas of the chosen organisation other than marketing this must be done. Without quantified data analysis it is not possible to demonstrate the ability to analyse; it must be included to form a basis for evaluation and decision making. Weak dashboards were very basic with simple bar charts, lacking colour or any clear indication of what the content was intended to demonstrate. Similarly many just presented headline financial data, and/or looked at data over historic annual periods, which gave little indication of the current situation. There was indication that candidates from Accredited Study Centres were all using the same or very similar Dashboards can be creative but should clearly and easily demonstrate the current situation of the areas being shown, where appropriate taking historical data to demonstrate a trend or similar. A range of visual elements to demonstrate the marketing tools should be used. Current information, rather than just historic annual data, must be indicated in dashboards along the lines of the information, which would be relevant on a car dashboard; consider that knowing the speed you were travelling at yesterday but not currently would have limited value. The same can apply if marketing dashboards only contain historic data.

5 dashboard styles rather than using content specific to their context. Task 3 Recommendations for metrics lacked application to the context of the organisation or future growth and challenges from weaker candidates, with little indication of the actual recommendations being made, some making no recommendation at all. Limited reference was made to decision making by some candidates. Advantages and disadvantages of using marketing metrics were presented purely theoretically by many candidates, lacking application to their use within the chosen organisation, particularly in relation to growth and potential challenges. Content should always be applied to the context of the chosen organisation. All areas requested in the task should be answered. Application is essential for success. Similarly, marketing research was discussed from a theoretical basis; explaining the terms primary and secondary without making recommendations about research to carry out, regularly having no links to previous content. The main weakness for the third element of the task was the lack of reference to previous content, instead making generic recommendations for marketing metrics to use without any contextual justification. Demonstrating understanding of concept through application rather than long explanations from a theoretical basis will always be rewarded with more marks.

6 Elements of the management or monitoring responsibilities were missed by weaker candidates, not gaining the marks available in these instances. It is important to answer every element of each task to ensure the opportunity to gain marks is maximised. The final section, reflecting on the appropriateness of using marketing metrics, was typically handled poorly by weaker candidates with some making no mention of this element of the task. Format and communication The requirements in terms of font and margin sizes were not followed by all candidates. Some candidates did not use all of the 16 pages available, resulting in opportunities to gain marks being missed. Many candidates included executive summaries, which were not required. Specified formats must be used. Full use of the space available should be made, ensuring any restrictions applied to individual tasks are followed.