Definition
A marketing metric is a measuring system that quantifies a trend, dynamic, or characteristic. Often a metric is obtained by taking two or more measurements to create a value.
In virtually all disciplines, practitioners use metrics to explain phenomena, diagnose causes, share findings, and project the results of future events.[1]
MASB has identified ten characteristics of an “ideal metric” according the Marketing Metric Audit Protocol (MMAP).
References
- ^ Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; and David J. Reibstein (2010). Marketing Metrics: The Definitive Guide to Measuring Marketing Performance (Second Edition). Upper Saddle River, New Jersey: Pearson Education, Inc.