MASTERING METRICS 38452647

DIPLOMA IN PROFESSIONAL MARKETING

MASTERING METRICS

MEMBERSHIP NUMBER: 38430724

TASK 1 – 3 16 PAGES

CANDIDATE DECLARATION:
‘I confirm that in forwarding this assignment for marking, I understand and applied the CIM policies
relating to word count, plagiarism and collusion for all tasks. This assignment is a result of my own
independent work/investigation except where otherwise stated. Other sources are acknowledged in the
body of the text and/or a bibliography is appended. The work that I have submitted has not previously
been accepted in substance for any other award. I further confirm that I have not shared my work with
other candidates’.

1
MASTERING METRICS 38452647

CONTENTS
TASK 1

(a) Using the organisation summary guidelines, provide a background to

your chosen organisation.

(b) Identify and explain the role of marketing metrics in the context of marketing
and the process of making marketing decisions in your chosen organisation.
You should refer to relevant theory within this

subtask.

(c) Identify which key metrics can be used in the chosen organisation for
measuring brand and brand value. Discuss how these metrics can
assist in understanding brand value.

(d) Explain how marketing metrics related to measuring brand and brand value are
currently utilised in your chosen organisation. You should

demonstrate how the metrics are applied.

TASK 2
(a) Discuss the different elements involved in measuring the value of a
brand, explaining how they assist an organisation in making
decisions.

(b) Taking into consideration the different elements involved in

measuring the value of a brand discussed in Task 2 (a), collect

data relevant for measuring the chosen organisation’s brand, and
analyse this data to demonstrate the overall brand value for the

chosen organisation.

(c) Prepare a marketing dashboard showing the results of the brand

value metrics analysed in Task 2 (b).

TASK 3

(a) Discuss how an evaluation process of brand valuation in your chosen

organisation using marketing metrics could help future decision-

making. Recommend and justify a range of future metrics linked to

brand valuation in your chosen organisation. (12 marks)

2
MASTERING METRICS 38452647

(b) Recommend a further range of relevant primary and/or secondary research

methods which could assist in validating the overall brand

value. Identify potential data source(s) within each of these

methods. (10 marks)

(c) Present the benefits and challenges of using a metrics approach to

branding. Reflect on the challenges posed in evaluating brand
valuation metrics, using the data available to you in Tasks 1 and 2.

3
MASTERING METRICS 38452647

Company profile for Kasapreko Company limited

Kasapreko Company Limited is currently the number one brand in the Alcoholic Beverage industry and
also successful in non alcoholic beverage products in Ghana. KCL was first set up in a garage by the
owner Dr. Kawbena Adjei in 1989 at Nungua a suburb of Accra. But KCL is now considered as a
multinational company with the state-of-the-act-automated-factory, located off the spintex road, Accra.
Mission: To produce quality alcoholic and non alcoholic beverages to satisfy consumers, through the
adoption modern methods using highly motivated professional staffs.
Type of Organization
KCL is private limited multinational company presently operating in countries like Ghana, Nigeria, Ivory
Coast etc with the aim of making profit and increasing return on investment to ensure the sustainability
of the company.
Size of Kasapreko Company Limited
KCL currently employs about 500 regular and contract workers who has a common goal and aspirations
Products range
Our main product is alomo bitters, other products which forms our major strength includes the Opeimu
bitters, Cocoa liqueur, Tonic Wine, Lime cordial, Cardinal Strawberry, Dry Gin, Kasapreko Brandy, K20
whisky and Gin, Alomo Silver, Root wine, Kalahari bitters, Ogidigidi and Aromatic Schnapps.
Customer base
Kasapreko Company Limited target both B2B and B2C customer group.. Ranging from restaurant, bar,
pub etc owners as well as individual consumers it’s a business to customer organization.
Competitors
The attractiveness of the alcoholic beverage industry is making it very competitive, however KCL
competes with local and foreign manufacturing companies which are, Guinness Ghana brewery limited,
baron distilleries, Gihoc distilleries company limited, Joy Herbal center and Ohenba Kasempa, Remy
Martins, SKD Monarch Limited, Agya Appiah Bitters etc.
Cross functional relationship
There is a very strong relationship among all the functions of KCL for they work together and has a
shared and common value which is to satisfy our customers and achieve the objectives of KCL. For
instance before KCL came out with alomo silver there was a lot of collective ideas coming from the
research unit, finance, production etc before the product was produced.
Stakeholder of Kasapreko Company limited
The stakeholders of KCL includes The Government of Ghana, customers and consumers, the public’s etc
however the internal stakeholders of KCL includes the CEO, the managing director, staff members,
departmental heads.
Other relevant information
The Nigerian High commisoner to Ghana, H.E Ademola Oluseyi Onafowokan has commended KCL for
deepening existing trade ties between Ghana and Nigeria. He explained KCL has contrinuted to the
development of the African story economically by using KCL brand to foster deeper ties between the
two countries. Again KCL is 2014 CIMG manufacturing company of the year and the market leader in
bitters industry in Nigeria (www.myjoyonline.com).

4
MASTERING METRICS 38452647

TASK 1 B.

IDENTIFY AND EXPLAIN THE ROLE OF MARKETING METRICS IN THE CONTEXT OF MARKETING AND THE
PROCESS OF MAKING MARKETING DECISIONS IN KCL
A metric is a measuring system that quantifies a style, dynamic, or characteristic. Marketing Metrics can
be defined According to Kotler, P. Interpreting performance. Marketing Metrics play very important
role at KCL. Below are the roles Marketing Metrics Plays;

- Helps to provide a concrete evidence of how marketing is benefiting the organization or in other
words marketing metrics makes the organization focuses on the Metrics that matter, example
the sales metrics.
- Marketing Metrics helps in evaluating the current strategies of KCL if they are effectively
implemented and are achieving set objectives of the organization, e.g.
- Marketing Metrics helps to review business performance against plan for instance
understanding each customer segments contribution and portion of total sales,
- It helps to explore the performance of products within the portfolio or against the compatibility
brands example.

The following are roles of Marketing Metrics

 Customer acquisition: Put simply, customer acquisition refers to gaining new consumers.
Acquiring new customers involves persuading consumers to purchase a company’s products
and/or services. organizations consider the cost of customer acquisition as an important
measure in evaluating how much value customers bring to the businesses source:
http://www.ngdata.com/what-is-customer-acquisition/ Marketing metrics plays major roles
such as attracting new customers and retain existing customers by Identifying our Ideal
customers, Discovering Where our Customer Lives, Knowing our Business Inside and Out,
Positioning ourselves as the Answer, Trying to Direct Response Marketing, Building Partnerships
and Following Up on our customers, through Referrals and promotional activities, the customer
acquisition metrics indicates that our acquisition and retention rate was declining comparing to
previous years making KCL concentrate on promotional activities especially social media
advertisement, Sponsorships and Direct Marketing making retention and acquisition increase to
up to about 23%.

 Long Term Assets: According to http://www.accountingcoach.com a long-term asset is an asset

that will not turn into cash or be consumed within one year of the date shown in the heading of
the balance sheet. The key role marketing metrics plays in the organization is helping KCL do
long-term investments which includes certain investments in stocks and bonds of other
corporations, a company's bond sinking fund, the cash surrender value of life insurance policies
owned by the company, real estate awaiting to be sold, etc. it also helps the company in
property, plant and equipment This classification includes land, buildings, machinery,
equipment, vehicles, fixtures, etc. that are used in the day to day business of KCL as well as
investing in intangible assets These include trademarks, patents, customer lists, goodwill, etc.
that were acquired in a transaction. http://www.accountingcoach.com/blog/what-is-a-long-
term-asset

5
MASTERING METRICS 38452647

Short Term Financials: Short-term financing can be used over a period of up to a year to help KCL
increase inventory orders, payrolls and daily supplies. Short-term financing includes the following
financial instruments

Source: Boundless. “Long-Term vs. Short-Term Financing.” Boundless Finance. Boundless, 21 Jul. 2015.
Retrieved 21 Nov. 2015 from https://www.boundless.com/finance/textbooks/boundless-finance-
textbook/capital-budgeting-11/introduction-to-capital-budgeting-91/long-term-vs-short-term-financing-
395-8296/

TASK 1 C.

IDENTIFY WHICH KEY METRICS THAT CAN BE USED IN THE CHOSEN ORGANISATION FOR MEASURING
BRAND AND BRAND VALUE. DISCUSS HOW THESE METRICS CAN ASSIST IN UNDERSTANDING BRAND
VALUE.

According to Philip Kotler and Gary Amstrong a brand is defined as a "name, term, sign symbol or a
combination of these) that identifies the maker or seller of the product". Whiles according to
www.cimmarketingexpert.co.uk/wp/?wpid=2011 brand value is the amount that a brand is worth in
terms of income, potential income, reputation, prestige, and market value. Brands with a high value are
regarded as considerable assets to a company, so that when a company is sold a brand with a high value
may be worth more than any other consideration.

There are different forms of branding which organizations use, companies such as Coca cola, Mcdonalds,
Microsft ect. Uses corporate Branding, there is also a different branding form is is the product branding
and examples are Windows xp, Vanilla diet coke etc. some other forms of branding are brand extension,
multi branding strategy, crowd sourcing branding etc.

Below are the Brand metrics KCL uses in the organization are Brand Scorecard,

Brand scorecard
The brand scorecard has been derived from the concept of balanced scorecard which is
defined as a management system (not only a measurement system) that enables
organizations to clarify their vision and strategy and translate them into action. It provides
feedback around both the internal business processes and external outcomes in order to
continuously improve strategic performance and results. When fully deployed, the balanced
scorecard transforms strategic planning from an academic exercise into the nerve center of
an enterprise (Kaplan and Norton, 1996)
The benefit of brand scorecard is that it identifies the posture of the brand in
reference to the strength of the brand in the given market. The scorecard would be helpful in
improving, guiding the brand led investment, and marketing strategy. The brand scorecard,
generally, is an increasingly utilized tool among businesses seeking to move strategy to the action stage.
Broadly, the brand scorecard encompasses four areas:

6
MASTERING METRICS 38452647

1. Understanding financial performance;

2. Operations and internal business processes related to production and supply;
3. Customer value measurement in terms of ranking levels of satisfaction; and
4. Linking brand metrics to business strategy.

Brand scorecard can be used to measure brand and brand value and this consists of brand
assets and liabilities which are scored compared to the brands of our key competitors, and this
ranges from

Brand Assets Brand Liabilities

brand awareness, leadership, reputation for customer dissatisfaction, environment
quality brand relevance and brand loyalty ,product failure, lawsuits, bad practices
whereas brand
The table above talks about what brand assets and brand liabilities are, this can be scored on the
scale of 0-10 where 0 is very poor, 1 is poor, 2 is fair , 3 is good, 4 is very good and 5 is
excellent.

Our brand Value and brand can be measured by subtracting the brand liability from the brand
asset, this will indicate how our brand is compared to our competitors.

Below is the

Brand Assets Score Brand Liability Score

brand awareness 5 customer dissatisfaction 4
leadership 5 environment 4
reputation for quality 4 product failure 3
brand loyalty 5 lawsuits 5
brand relevance 4 bad practices 5
Total 23 Total 21

Brand contribution metric: this metric that assists in the quantification of the strength of a
particular brand or product brand that differentiates itself from competitors

There is no definite formula for measuring brand contribution, but First can adopt Davis
formula cited in measuring metrics (2013)

7
MASTERING METRICS 38452647

Brand Assessment survey

Brands Revenues Brands Gross brand

generated ₵ Brands Marketing contribution
Alomo Silver 78,000,000 cost ₵ ₵
Root wine 43,000,000 Alomo 8,700 Alomo 7,791,300
Kalahari 53,000,000 Ginseng 42,992,100
Bitters Ginseng 7,900
Kapricon 52,992,200
Kapricon 7,800

This can be done by subtracting the marketing cost associated to the brand from the revenue
generated which will give you the gross brand contribution. the most valuable brand is the
alomo and for that matter customers are likely to associate their self to this brand and this is
depicted in the diagram above

(e) Explain how marketing metrics related to measuring brand and

brand value is currently utilized in your chosen organization. You
should demonstrate how the metrics are applied.
Brand contribution is one of the metrics that is currently being applied in my organization. As
the name implies, this metric enable the organization to identify which brand contributes more
to the achievement of our set objectives.

Revenue metric

We use revenue metrics to calculate brand and brand value of KCL. And we used Quality and
price in measuring elements all within a particular period of time. This is the revenue used to
measure our brand and brand value.

Product Price ₵ Quantity/amount revenue

ALomo Silver 150 5555 833,250
Root Wine 90 2111 189,990
Kalahari Bitters 90 3478 313020
Opiemu 100 2476 247600
K20 100 1235 123500
The Alomo Silver has a higher brand value as comparing to other products or brands this is
because it has higher revenue

From the above analysis we were able to measure our brand and brand value for a very strong
brand must be able to attract more customers who in return will purchase more of our brand.
This was done by multiplying the price by the quantity to arrive at revenue.

After the examination EBG decided to explore the rationale behind the increase in revenue so
as to apply or extend it to the other brands to help First build a very corporate brand

8
MASTERING METRICS 38452647

Discuss the different elements involved in measuring the value of a brand,

explaining how they assist an organization in making decisions.

Measuring brand value and assessing the value of intangibles by asking consumers to separate out the
brand and place a monetary value on it is difficult because this is not what we do in the real world. In
fact, most consumers, when asked to place a monetary value on brands, are in denial about paying a
premium just for the name. source: https://www.b2binternational.com/publications/value-of-brands/

Below are the elements of a Brand

Keller distinguishes six general criteria for brand elements, segregated in two groups in which
the elements play an offensive or defensive role. Each brand element will have its own strength
and weakness. Key to brand equity is the mixture and balance between the different elements in
their verbal and visual context to maximize their collective contribution (Keller, 2006:178):

Offensive role Defensive role

 1. Memorability  4. Transferability
 2. Meaningfulness  5. Adaptability
 3. Likability  6. Protectability

In measuring the brand value of KCL the following was used

Customer base: according to Business Dictionary Customer base can be defined as The clients to
whom a business sells products and services. The customer base is a relatively broad number of
customers, with a smaller section of the base being comprised of repeat customers. Customer base will
be chosen because or used to measure brand value because our customer base is one of the key
importance to KCL and for that matter we have a very well managed and designed customer base in
other to enhance our customer experience which in return make our customer base wider and strong
creating a very good valuable brand. Source: http://www.businessdictionary.com/definition/customer-
base.html#ixzz3sRD8q1Hr

Brand awareness: according to Chron.com Brand awareness is a measure of how well your brand is
known within its target markets. The highest level of brand awareness is top of mind awareness. This is
when customers think of you first when they need to make a purchase within your product category or
industry. And for that matter brand awareness can be measured by how well customers have a brand in
mind or how easy they remember a brand when they enter an industry or want a particular product. In
other for KCL to build a very strong brand value or brand, we have decided to intensify our awareness
creation through social media (Face book, Pinterest, Twitter), Television (Oman TV, Ghana TV and TV3)
as well as Most listened to radio stations such as Radio XYZ and Radio Ghana, this will help our brand
gain more awareness and be a market leader.

9
 MASTERING METRICS 38452647

Price: Price is the value that is put to a product or service and is the result of a complex set of
calculations, research and understanding and risk taking ability. Customers will only pay for products
and services when they think or know their needs will be satisfied, during measurement of our brand
value the metrics we used price couldn’t be left out. KCL as a company who wants to maintain a brand
and build a strong brand we have decided to slightly reduce prices some of our product that’s are not
doing well in the market and slightly increase the prices of the ones doing well in other to build a strong
brand

Sales. Sales is simply defined as income from customer purchases of goods and services, minus the cost
associated with things like returned or undeliverable merchandise. Without sales it will be very difficult
for a company to measure brand and brand value. KCL has made it a point to increase sales through
advertisements in other to maintain its brand value and well as increase it.

Taking into consideration the different elements involved in measuring the value of
a brand discussed in Task 2 (a), collect data relevant for measuring the chosen
organization’s brand, and analyze this data to demonstrate the overall brand value
for the chosen organization.
Qualitative and Quantitative was collected and examined in other to assist KCL measure its
Brand and Brand Value.

Customer Base:
Our customer base through research has been increased by 18% for the past 5months this is as
a result of intensive advertisement and enhancing customer experience, published in our
internal news paper. Kasapreko Company Limited target both B2B and B2C customer group.. Ranging
from restaurant, bar, pub etc owners as well as individual consumers it’s a business to customer
organization, in examining our customer data base we realize that our customers data base has
increased by 38% from the year 2013 to October 2015 serving as a giving a good indicator, this was
successfully achieved because of the strategies put in place such as Direct marketing and intensive
advertisement..

Brand awareness: the awareness level of KCL in the industry is quiet impressive as compared to
other competitors in the industry, but it’s not enough because as time goes on competitors are
also making it in the industry, Survey was conducted which consisted of 1200 customers as well
as prospects, after the survey people who could recall our brand without anybody reminding
them as well as people who can recall when aided is listed below.

Questions No .of customers res. Aided recall Unaided recall

Do you know about KCL? 2,345 1,042 1,303
How did you know about 2480 1832 648

10
 MASTERING METRICS 38452647

KCL
Do you know the 2500 1756 744
corporate colours of KCL?
Do you know the slogan 2,200 1823 377
for kasapreko
the above table show the responds we generated after conducting the analysis. It clearly shows
how when customers are aided before they can make out the brand name, this is because of
lack of awareness on the part of the brand and for that reason intensive advertisement must be
undertaken.

Price: this is where the net promoter Score is used to ask customers about the prices of KCL as
compared to that of Competitors (Gihoc). This is done by asking the definitive question which is
straight forward, example is would you refer KCL to a close relative or friend? The response will indicate
the emotions of the customer and this will be made to score on scale of 0 to 5 by the respondent and for
this question the scale 10 stands for NOT AT ALL and the 100 stands for YES I will recommend it to
friends. Meaning our prices are very good and for that reason the products serves their need and they
get value for money making our brand value strong.

Company Product /service price Customer perception

KCL Alomo Silver 150 100
Gihoc Tornado 300 10
Agya Appiah Prekese 300 40

Below is a marketing dashboard depicting the brand metrics analyzed above.

11
MASTERING METRICS 38452647

350

300

250

200 product
price
150
customer perception

100

50

0
KCL Gihoc Agya Appiah

Overview dashboard of the brand metrics analysis for KCL and some of its key competitors;

Sales: we gathered data from both internal and external sources, in so doing we unruffled sales
data in relation to our single individual products to evaluate their performances again matched
some sales figures with that of some competitors in the industry alcoholic beverage market.

Product/service 2011 sales 2012 sales 2013 sales 2014 sales

Alomo Silver 298,000 338,980 800.998 900,565
Opiemu 289,879 398,838 566,,935 890,864
Kalahari Bitters 890,864 500,113 599,987 657,903
K20 345,688 234,361 382,182 408,987

From the above data generated and analyzed……

Company brand 2011 sales 2012 sales 2013 sales 2014 sales
KCL 2,108,362 2,232,184 3,021,871 4,921,871
Gihoc 3,001,254 4,241,834 5,872,413 6,987,900
Agya Appiah 1,823,217 2,341,217 2,741,032 3,099,876

Overview dashboard of the brand metrics analysis of KCL and some competitors;
12
MASTERING METRICS 38452647

0.8

0.7

0.6

0.5 Brand asset

Brand Liability
0.4
Relative market Share
0.3 Revenue Generation

0.2

0.1

0
KCL Gihoc Agya Appiah

This indicates that Gihoc has high percentage

2,500
2,000
1,500
1,000
500 Unaided Recall
0 Aided Recall No. of Customers Res.
No. of Customers Res.
Aided Recall
Unaided Recall

Fig. Showing level of awareness aided and unaided recall test.

The above presentation depicts how customers are aided or unaided to recall a brand the the
depiction shows how customers of KCL has to be aided b4 they recall our brand.

13
MASTERING METRICS 38452647

3,000,000

2,500,000

2,000,000
2014

1,500,000 2013
2012
1,000,000 2011

500,000

0
Alomo Silver Opiemu Kalahari K20

Fig, represent sales accumulated from some selected products of KCL

This dashboard indicates that Alomo Silver has Strong Brand Value

6,000,000

5,000,000

4,000,000 2011
2012
3,000,000
2013
2,000,000 2014 2014
1,000,000 2013
2012
0
2011
KCL
Gihoc
Agya Appiah

Fig. represents sales revenue of average competitors in the industry.

From the above pictorial representation Gihoc can be considered to have a very strong and
valuable brand they recorded the highest revenue throughout the years according to the data
gathered followed by KCL experiencing some level of increase in revenue, but we must
reconsider our brand building approaches to help KCL achieve competitive advantage.

14
MASTERING METRICS 38452647

3a. Discuss how an evaluation process of brand valuation in your chosen

organization using marketing metrics could help future decision-making.
Recommend and justify a range of future metrics linked to brand valuation in
your chosen organization.

An evaluation of our brand value indicated that market share can only be
increased If our brand value becomes very strong and unique and for that
matter we will attain a competitive advantage; for this reason strategies must
be out in place in other to build a very strong brand through putting strategies
in place which will help enhance customer experience and for that matter
increase market share and be on top of competition.

Retention rate; we must make sure we retain customers and turn prospects to customers by
making sure we center our attention on building a very strong relationship with these
customers, this when done will make existing customers advocates of our brand which will in
return help build a very strong brand, in so doing we must see to it that we have analyzed
information gathered from our retention rate metric which will help monitor our brand
performance indicating the retention and attracting customers at a given time frame.

Revenue metrics:

We also looked at how a brand valuable can help increase revenue from the revenue metrics,
which is one of the main aims of KCL. This for this reason we will have to invest more in brand
building but this investment must be very strategic and tactical which will make our brand
strong against competitors brand. The revenue metrics is what we use more often in other to
make we measure and monitor the performance of KCL Brand which will help in building a nery
strong valuable brand.

Brand equity
“Brand equity is the unique set of real and/or perceived distinctions attached to a brand by customers….
Brand equity lives only in the hearts and minds of customers. (Brandt and Johnson, 1997)

Brand equity will help the Company to link the performance of our brand to the worth of the
company, in using brand equity it will aid our brand awareness level and brand image to know
how valuable our brand is. The following importances of Brand Equity are

 Increased margins. Positive brand equity will allow KCL to charge more for our products
and service, because people will be willing to pay a premium for our name.
 Customer loyalty. Our Customers are not only willing to pay more for our products with
strong brand equity; they’re also willing to stay loyal to KCL over years and years,
coming back to buy there again and again.

15
MASTERING METRICS 38452647

 Negotiating power. Positive brand equity can give KCL a considerable advantage in
negotiating with vendors, manufacturers and distributors.

Powerful brands create meaningful images in the minds of consumers (Keller, 1993)

Professor Kevin Keller, of Dartmouth College, lists the following seven benefits of brand equity

 Be perceived differently and produce different interpretations of product performance;

 Enjoy greater loyalty and be less vulnerable to competitive marketing actions;
 Command larger margins and have more inelastic responses to price increases and elastic
responses to price decreases;
 Receive greater trade cooperation and support;
 Increase marketing communication effectiveness;
 Yield licensing opportunities;
 Support brand extensions

Brand contribution is a metric that quantifies the strength of a brand exclusively, without financial or
other elements. It's a critical component in the calculation of brand value. This will help the
repositioning of some brands and will also help us know whether to invest in a particular brand or not.

The Brand Scorecard Dashboard is intended to define the role of marketing in a company. They are
useful when a company needs to solve the following problems:

 it is difficult to show the direct effect of marketing on the organization’s financial results;
 separate directions of marketing activities seem to work autonomously of one another, while
fighting for budgets. It is difficult to objectively set priorities;
 a variety of marketing initiatives are implemented, though it is difficult to determine which ones
actually impact financial results;
 marketing budgets are determined based on last year’s expenses and not on company goals;
 it is difficult to evaluate the ROI of the marketing mix and determine connections between
understandable brand values and turnover, as well as revenue

The brand scorecard was used to measure brand and brand value, it will help KCL evaluate the
assets we gain against the liabilities, which might or is likey to negatively affect our brand.
(Assets – Liabilities)

16
MASTERING METRICS 38452647

(c) Recommend a further range of relevant primary and/or

secondary research methods which could assist in validating
the overall brand value. Identify potential data source(s)
within each of these methods.

The reason for undertaking a market research is because there is a need to

update the past gathered data and remove the outdated data, this will be
give us detailed and effective analysis that will be used to measure brand and
brand value in so doing we are going to use both secondary and primary
research will be used.
Secondary research/desk research is information that has been previously gathered for some
purpose other than the current research project.(Wilson A. 2006)
The gathered data could be from internal or external source.

Primary research is new research, carried out to answer specific issues or questions. It can
involve questionnaires, surveys or interviews with individuals or small groups. Source:
www.businesscasestudies.co.uk/...research.../primary-and-secondary-research.html

According to Housden 2008 Primary research would be carried out in two phases; these are
qualitative and quantitative research.

Wilson (2006) defines qualitative research as “Research that is undertaken using an

unstructured research approach with a sample of population to produce non-quantifiable
insights into behavior, motivation and attitudes”, whiles he defines quantitative research as
“research that is undertaken using a structured research approach with a sample of the
population to produce quantifiable insights into behavior motivations and attitudes”.

The recommended important secondary and primary research methods with will aid KCL to
measure our Brand and Brand Value.

Customer survey; a survey will be conducted through the use of questionnaires and face to face
interviews in undertaking the customer survey, questions will be asked comparing the major
competitors in the market with KCL, the internet will be used when customers visit our pages
and distribution depots will be used when customers come to buy from us.

Sales: sales data will be collated from the customers database and this will be used for a
customer survey hence asking questions such as how and who told you about KCL.

17
MASTERING METRICS 38452647

(d) Present the benefits and challenges of using a metrics approach to

branding. Reflect on the challenges posed in evaluating brand
valuation metrics, using the data available to you in Tasks 1 and 2.

There are various benefits of Brand Metrics and if KCL utilizes it well it will achieve the following
benefits.

Quality

Companies are increasing looking for ways to improve the quality of their processes and
products to gain a competitive advantage. The effective use of business metrics can help a
company to improve quality. For example, consistent errors with a piece of equipment or low
performance in a standard of customer service can be improved through measurements that can
isolate the source of problems. In assessing procedures and process, problems can arise if data is
out of date, because bad numbers are worse than no numbers.

Costs

Financial reports contain metrics that can be used to assess areas such as price-to-earning ratio,
revenue per customer, revenue per employee and market share growth within an industry.
Business metrics can also identify the proportion of your costs that go to waste that produces no
value for your customer. Conversely, the collection and interpretation of financial data may be
difficult and time consuming, and the proper use of business metrics generally requires an
investment in training.

Customers

An important amount of customer data is never used by KCL. For example, customer data can
give insights into consumer purchasing patterns or indicate areas of customer dissatisfaction.
Business intelligence software will often speed up and simplify the process of analyzing
customer data analysis. When using metrics, take care when measuring abstract concepts such as
customer satisfaction and Brand metrics. In such situations, it is probably best to focus on overall
business goals and objectives related to increasing quality customer care, rather than focusing too
keenly on metrics

18
MASTERING METRICS 38452647

When Brand Metrics is Properly used it will help increase the contribution of this brands, this
will increase KCL margins and in return we gaining high competitive advantage

http://smallbusiness.chron.com/advantages-limitations-business-metrics-24292.html

Below are challenges that affect KCL in using Brand Metrics

Selecting an exact metrics for a specific business is quiet challenging since u can use diverse
metrics to measure brand or brand value, example is using the sales metrics to measure brand
value financial aspect

Some metrics include the risk of inaccuracy, making them especially dangerous to use when there is
money on the line or doubt about the results. This is the case with business metrics that rely on
forecasts or estimates. Information from a company's static budget, which may seem like sound
financial information, is actually just a prediction based on research and past results. Incorrect
assumptions about inflation, industry growth and expenses can causeBrand metrics to change drastically
when analysts insert actual data

Some business metrics, such as a company's profit-and-loss statement or its cash asset ratio, become
benchmarks for evaluating performance. While these metrics have value, they also create the illusion
that other metrics are less important or less reliable. Individuals are responsible for evaluating business
metrics within the context of what those metrics represent, what other metrics reveal and how the
information works together to give information about a business.

http://smallbusiness.chron.com/disadvantages-business-metrics-22005.html

19
MASTERING METRICS 38452647

Reference

www.myjoyonline.com

http://www.ngdata.com/what-is-customer-acquisition/

http://www.accountingcoach.com

http://www.accountingcoach.com/blog/what-is-a-long-term-asset

https://www.boundless.com/finance/textbooks/boundless-finance-textbook/capital-budgeting-
11/introduction-to-capital-budgeting-91/long-term-vs-short-term-financing-395-8296/

www.cimmarketingexpert.co.uk/wp/?wpid=2011

: https://www.b2binternational.com/publications/value-of-brands/

http://www.businessdictionary.com/definition/customer-base.html#ixzz3sRD8q1Hr

www.businesscasestudies.co.uk/...research.../primary-and-secondary-research.html

http://smallbusiness.chron.com/advantages-limitations-business-metrics-24292.html

http://smallbusiness.chron.com/disadvantages-business-metrics-22005.html

Kaplan, R S and Norton, D.P (1996) The Balance scorecard: Translating Strategy into Action, Harvard
Business School Press Boston.

Kotler.P. and Armstrong, Gary (2010)” Principles of marketing”-Thirteen edition, P.511.

Kotler.P. and Armstrong, Gary (2010) Promotional mix:” Principles of marketing”-Thirteen

edition, P.454-471.

20