Pushing the Numbers in Marketing: A Real-World Guide to Essential Financial Analysis

Overview

This book covers in vivid, clear prose the basic accounting tools that marketers need to develop profitable marketing programs: costs, marketing arithmetic, marginal analysis, and contribution accounting. It is thorough and up-to-date, and has a hard-as-nails practicality to it. The book is packed with examples that are both fascinating and illustrative of the author's points.

After a short treatment of the uses and limitations of microeconomics to the practicing marketer, the ...

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Overview

This book covers in vivid, clear prose the basic accounting tools that marketers need to develop profitable marketing programs: costs, marketing arithmetic, marginal analysis, and contribution accounting. It is thorough and up-to-date, and has a hard-as-nails practicality to it. The book is packed with examples that are both fascinating and illustrative of the author's points.

After a short treatment of the uses and limitations of microeconomics to the practicing marketer, the book develops in detail two key ideas from microeconomics--costs and marginal analysis. Each is explained fully with illustrations and advice on how to use the idea. For readers who want to increase their mastery of the material, there are some seventy problems with complete answers at the end of the volume. This is a solid book for marketers and would-be marketers who want to increase their competence on the job.

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Product Details

  • ISBN-13: 9780899307367
  • Publisher: Greenwood Publishing Group, Incorporated
  • Publication date: 9/28/1992
  • Pages: 200
  • Product dimensions: 6.36 (w) x 9.36 (h) x 0.70 (d)

Meet the Author

DAVID L. RADOS is Professor of Marketing at the Owen Graduate School of Management, Vanderbilt University.

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Table of Contents

Preface
1 First Words 1
What You Will Find in This Book 2
2 Why You Should Learn Some Economic Theory...but Only a Little 5
Two Divisions of Economics 5
Learning Some Microeconomics 6
Why Is It So Hard to Use Microeconomics? 7
What Microeconomics Offers to a Manager and What It Doesn't Offer 12
Managerial Economics 14
Now to Use Microeconomics 14
3 What Every Marketer Needs to Know About Costs 17
Variable Costs 17
Fixed Costs 19
Semi-Variable Costs 20
Programmed Costs 20
Avoidable Costs 22
Traceable Costs 22
Actual Costs 23
The Mix of Costs 23
Marginal Costs 24
Sunk Costs 24
Opportunity Costs 28
How to Classify Costs 33
Summary 37
4 Elements of Marketing Arithmetic 39
Gross Margins 39
Retailing Arithmetic 47
How to Use Marketing Arithmetic 51
5 Averaged Marginals - What Marginal Analysis Says 53
The Marginal Principle 53
Averages 58
Marginals 63
Marginals and Averages Are Easy to Confuse 66
Examples of Marginal Thinking 68
If Marginal Analysis Is So Great, Why Doesn't Everyone Use It? 72
How to Use Marginal Thinking in Analyzing Marketing Problems 72
6 The Marketing Control Statement 75
How to Prepare a Marketing Control Statement 75
Advantages of the Marketing Control Statement 77
What's Wrong with the Marketing Control Statement? 81
What's Wrong with Using Allocated Costs? 82
How to Use the Marketing Control Statement 83
7 Break-Even Points and Just-Cover Points 85
The Traditional View of a Break-Even Point 85
How Marketers Use Break-Even Points 85
Shortcuts to Figuring Break-Even and Just-Cover Points 89
How to Use Break-Even and Just-Cover Points 96
Appendix 96
8 Contribution Analysis - Why Didn't We Make Plan? 99
Two Examples to Get Started 99
Variance Analysis 103
Variance Analysis - Another Pass 108
Variances for Market Size and Market Share 112
A Wrap-Up 114
How to Use Contribution Analysis 115
9 Last Words 117
Appendixes 119
Problems 121
Answers to the Problems 148
Index 183
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