Answer to Question #10225 in Marketing for Martha

Question

three factors firms should use as marketing metrics to plan for and measure IMC

Answer 1

Integrated Marketing Communication (IMC) is a cross-functional process for planning, executing, and monitoring brand communications designed to profitable
acquire, retain, and grow customers. IMC strategy starts with a thorough
understanding of the target stakeholders, the brand, its competition, and many
other internal and external factors.
Three factors firms should use as marketing metrics to plan for and measure IMC are:
1. Brand awareness that enables marketers to quantify levels and trends in consumer knowledge and awareness of a brand's existence.
2. Buyer Metrics includes the frequency of purchases, or the retention rates of customers that can be rolled up to overall market share, brand equity and/or
customer lifetime value. The most quoted Buyer Metric is typically the Average
Order Value, or the AOV, which is used to understand and compare different
groups of buyers.
3. Return on Sales – Net profit as a percentage of sales revenue.