The BASES metric provided by Nielsen and Innovation Practice has completed the Marketing Metrics Audit Protocol (MMAP), the Marketing Accountability Standards Board’s formal process for determining how a marketing metric relates to the financial performance of the firm.
The BASES forecasting system combines consumer response to new initiatives (concepts and products) with the manufacturer’s planned marketing support to produce an estimate of future sales. Five consumer response metrics, along with planned marketing activity, are used in the model.
PRIORITIZATION AND RISK ASSESSMENT
Manufacturers use the BASES forecasting system for:
- Prioritization of initiatives in their new product development pipeline
- Risk assessment in launching a new product (profit/loss assessment)
- Launch/no-launch decisions
- Supply planning (in cases when a launch will occur)
TEN CHARACTERISTICS OF AN IDEAL METRIC
According to the MMAP process, an ideal marketing metric is: 1) Relevant, 2) Predictive, 3) Objective, 4) Calibrated, 5) Reliable, 6) Sensitive, 7) Simple, 8) Causal, 9) Transparent, and 10) Quality Assured.