Mind-Set Metrics: Consumer Attitudes and the Bottom Line

Abstract

Including mind-set metrics like cognitions, affects and intentions in marketing models helps explain the effect of marketing on hard facts like sales and profit and also improves marketing decisions. Mind-set metrics have longer wear-in times than most marketing mix activities and can therefore serve as leading indicators. They allow time for managerial action before market performance itself is affected. The mind-set effects are not identical for all types of products or in all marketing settings. Four criteria – potential, responsiveness, stickiness and sales conversion – help determine and make clear 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 modeling of mind-set 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.