Nikki's Marketing Powwow

There are a fair few number of keywords repeatedly heard around the marketing world. Two of the most common keywords that often get lumped together are KPI's and Metrics. But what are KPI's and Metrics anyway? Is there a difference? KPI's  are a, "...way of measuring the effectiveness of an organization and its progress towards goals" (Maxwell, 2014). In essence, organisations use KPI's to measure their business goals. Take Netflix for example, an online media streaming service. Netflix relies on a large portion of its revenue from account subscription s  (Ciejka, 2018).  A s a result, a potential KPI that Netflix might decide on would be an objective to grow their subscriber base. Netflix would then come up with a KPI strategy to reach this objective. A good KPI strategy will typically follow: 1. An iterative process - this is where a company will conduct a repeated cycle of function until eventually reaching their sought after business goals. 2. The...

In recent years, there have been many changes in the field of marketing that have challenged marketers worldwide. Out of all these new challenges, there are 3 stand out new realities marketers need to face: Technology, Globalization, and Social Responsibility (Kotler et al., 2016) . Technology has become a powerful force today. The use of social media has become a widely popularized aspect of technology - especially in the marketing sphere. As a result, the world is more connected than ever. Globalization is another huge new phenomenon that has drastically changed the ways and places we do business. Large scale immigration and travel have played a key role in speeding up the effects of globalization. Big metropolitan cities have become melting pots of different cultures, cuisines and ideologies. Social Responsibility  was a slow and steady player in the marketing circle. Not much thought was really put into ethical and environmental aspects of product development a...