Why We Need to Use Marketing Metrics
When it comes to marketing, we have two main objectives: to understand what works and how and when it works, and to explain and demonstrate our performance.
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Understanding Share of Hearts Metrics
“Share of Hearts” is a qualitative measure of marketing success. It differs from the more tangible metrics (such as market share, that is based on sales) and focuses on the less tangible aspects the consumers’ emotional engagement with a brand.
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Should I Use Unit or Revenue Market Shares?
When calculating market shares a decision needs to be made of whether to monitor relative market shares based upon unit sales or based upon revenue share?
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Using Market Share to Track Competitors
Relative Market Share (RMS) is a measure of a company’s performance in comparison to its competitors. It is calculated by dividing a company’s own market share by the market share of its largest competitor.
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Why Use Relative Market Share?
Why should marketers review relative market shares? Let’s find out why relative market shares are often a more insightful metric than ‘normal’ market shares.
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Market Concentration and the Herfindahl-Hirschman Index
The Herfindahl-Hirschman index (HHI) is a measure of market concentration. It is calculated by squaring each of the market shares.
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Market Concentration for Marketers
The market concentration marketing metric uses unit market shares to determine the extent of dominance by the large players in the marketplace. It is a key metric to measure the intensity of competition within a market.
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BCG Matrix Formulas
This article details the formulas and calculations required to construct the BCG matrix, namely Relative Market Share and Market Growth Rate.
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Market Share in the BCG Matrix
For those people familiar with the BCG matrix, you should recall that the horizontal axis measures relative market share. And this factor is the more important of the two dimensions in the model.
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Variations of Market Share
It would be a mistake for a firm to rely upon one market share measure only. Assuming that the firm has access to competitive sales information, then a variety of market share metrics should be calculated and reviewed.
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