Mindset Metrics: Consumer Attitudes and the Bottom Line

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Srinivasan, S. (2015). Mind-Set Metrics: Consumer Attitudes and the Bottom Line. NIM Marketing Intelligence Review, 7(1), 28-33. https://doi.org/10.1515/gfkmir-2015-0004

Year

2014

Authors

Shuba Srinivasan

Publication title

Mindset Metrics: Consumer Attitudes and the Bottom Line

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NIM Marketing Intelligence Review

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Consumer Attitude Metrics; Sales Conversion; Hierarchical Linear Model; Cross-effects Model; Dynamic Programming Model

Including mindset-metrics like cognitions, affects and intentions in marketing models helps to explain the effect of marketing on hard facts like sales and profit and improves marketing decisions. Mindset metrics have longer wear- in times than most of the marketing mix activities and can therefore serve as leading indicators. They allow time for managerial action before market performance itself is affected.

The mindset effects are not identical for all types of products or in all marketing settings. Four criteria, potential, responsiveness, stickiness and sales conversion help to determine and understand the connection between marketing actions, attitudinal metrics, and sales outcomes for different product types and brands. These criteria can also be used in prediction models and to determine the optimal budget for individual marketing activities.

The joint modelling of mindset metrics, marketing mix actions and financial outcomes are relevant and helpful to CMOs and CFOs alike. Such information enables marketing managers to understand the effect of marketing actions while offering financial accountability of marketing to CFOs.

Authors

Shuba Srinivasan, Adele and Norman Barron Professor in Management, Boston University, USA

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Mindset Metrics: Consumer Attitudes and the Bottom Line

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Other articles of the MIR issue “Truly Accountable Marketing”