Measuring Marketing Strategy Review: Q2 Audit
It has been said that there is only one way to test marketing: wait and see what happens. However, few pharma CEOs today would consider such a “watchful waiting” approach to be appropriate. “This observation highlights an unmet need in the pharmaceutical industry,” says Mike Rea, Managing Director at IdeaPharma, a pharmaceutical marketing best practice consultancy. “While it is possible to predict and measure the effects of sales promotion by direct measures, or by modeling using surrogate measures, there are no empirical measures of the effectiveness of strategic marketing that can be used to judge effectiveness.”
This article reviews Q2 Audit, a new company and an industry-standard measure of marketing effectiveness. Topics discussed include:
- Think Financially
- Q2 Audit
- Strategic Marketing Failures
- An Industry-Standard Measure
- What’s the Score?
- Potential Applications
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PMN44-02
Issue: Vol. 4, No. 4: April 2005
Word Count: 1693
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