Conceptual Approaches and Theoretical Model of the Concept of Marketing Metrics in the Modern Economy

Abstract

In the modern world, marketing metrics are used to analyze the situation on the consumer market, as well as diagnose the causes and predict future events. They make it possible to compare the results of observations obtained at different periods of time or in different areas. It is an erroneous opinion that in marketing, most decisions are made without using quantitative calculations, since today they are one of the most difficult processes to measure. Basically, marketing research uses quantitative analysis skills that are necessary to manage the productivity of enterprise’s marketing activities; however, managers who are capable of conducting creative promotional activities rarely calculate the effectiveness of the implementation of this campaign. Therefore, it is recommended to consider the classification of marketing metrics by groups, since they are the gauge of any activity. The purpose of the article is to study the theoretical foundations of marketing metrics and conceptual approaches to grouping them. Under the marketing metrics we understand the continuous, regular monitoring and control of the quantitative indicators of the enterprise and the market as a whole, aimed at identifying and solving the problems of the company, in order to develop business and meet the needs of consumers. It should be noted that we do not recommend using all the proposed metrics at once, as it isnot appropriate, but we suggest defining a number of indicators, depending on the scope of the enterprise, with the help of which it is possible to carry out an assessment, which will allow determining the most interesting marketing tools and making effective conclusions.