MARKETING PERFORMANCE MEASUREMENT FOR BRANDING
Marketing performance measurement (MPM), or marketing performance management, is the systematic management of marketing resources and processes to achieve measurable gain in return on investment and efficiency, while maintaining quality in customer experience. Marketing performance management is a central facet of the marketing operations function within marketing departments.
The scientific method is a body of techniques for investigating phenomena, acquiring new knowledge, or correcting and integrating previous knowledge. To be termed scientific, a method of inquiry is commonly based on empirical or measurable evidence subject to specific principles of reasoning.
The Oxford Dictionaries Online define the scientific method as “a method or procedure that has characterized natural science since the 17th century, consisting in systematic observation, measurement, and experiment, and the formulation, testing, and modification of hypotheses”. Experiments need to be designed to test hypotheses. The most important part of the scientific method is the experiment.
Human beings are naturally inquisitive, so they often come up with questions about things they see or hear and often develop ideas (hypotheses) about why things are the way they are. The best hypotheses lead to predictions that can be tested in various ways, including making further observations about nature. In general, the strongest tests of hypotheses come from carefully controlled and replicated experiments that gather empirical data.
Depending on how well the tests match the predictions, the original hypothesis may require refinement, alteration, expansion or even rejection. If a particular hypothesis becomes very well supported a general theory may be developed.
Although procedures vary from one field of inquiry to another, identifiable features are frequently shared in common between them. The overall process of the scientific method involves making conjectures (hypotheses), deriving predictions from them as logical consequences, and then carrying out experiments based on those predictions. A hypothesis is a conjecture, based on knowledge obtained while formulating the question.
The purpose of an experiment is to determine whether observations agree with or conflict with the predictions derived from a hypothesis. Experiments can take place anywhere from a college lab to CERN’s Large Hadron Collider. There are difficulties in a formulaic statement of method, however. Though the scientific method is often presented as a fixed sequence of steps, it represents rather a set of general principles.