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Marketing Effectiveness 2001

Marketing Effectiveness 2001

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Published by Youssef Rahoui
Marketing Effectiveness
Marketing Effectiveness

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Categories:Business/Law
Published by: Youssef Rahoui on Apr 17, 2009
Copyright:Attribution Non-commercial

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12/19/2012

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Marketing Effectiveness
Prepared for The Chartered Institute of MarketingbySteering Group:
 Julia McKechnie, Barclays (Chair)Rosemary Carter, CCMarketingAlan Dibbo, AJPManagement John Flynn, ComMentor Group John Mayhead, Chiltern House AssociatesGrant Oliver, Marketing Process CompanyGraham Truscott, Brand ActiveDr John Woodthorpe, Cap Urenco
Advisers:
Professor Bob Shaw, Cranfield UniversityTim Ambler, London Business SchoolProfessor Peter Doyle, Warwick Business SchoolNovember 2001
www.connectedinmarketing.com
The CharteredInstitute of Marketing
Everything you need to know about
e
-marketing
 
Contents
- 2-© The Chartered Institute of Marketing
PageA.INTRODUCTION3
What is Marketing Effectiveness and Why is it Important?3
B.THE BIG PICTURE5
Getting Marketing on to the Boards Agenda6Marketing Metrics: What Shall We Tell the Shareholders?10Pan Company Marketing13The Balanced Scorecard18Measuring Reputation and Brand Equity22Customer Orientation25
C.FUNCTIONAL MARKETING EFFECTIVENESS28
Return on Marketing Investment28Practical Deployment31
D.THE MARKETING BUDGET34
Measuring Advertising and Promotion Performance34Predicting Revenues/Forecasting37Utilising Marketing Research (MR) for Measurement40
E.ORGANISATIONS44
Business to Business44Not for Profit Organisations48
F.NEW APPROACHES51
Value-based Marketing51Innovation Culture56The Buy-in Benchmark
TM
:Key Metrics to Assess Staff Understanding and Commitmentand the Impact on Brand and Business Performance59The Sustainable Brand Value Matrix64Frequently Asked Questions on Marketing Effectiveness71
 
A.INTRODUCTION
What is Marketing Effectiveness and Why is it Important?
Trying to define what we mean by marketing effectiveness is notstraightforward, since it depends on each particular organisation’s aims andobjectives. Nevertheless, there is a growing body of knowledge on thesubject which is helping to provide marketers and their organisations with amore rigorous framework in which to measure both the short and longerterm financial impact of their marketing investments.This site sets out to help practitioners share their knowledge aboutMarketing Effectiveness – the knowledge which they think is essential tosuccessful practice, for marketers look to other marketers for the most usefulinformation, tools, frameworks, and ideas.This ‘Canon of Knowledge’ is interactive, so that you as practitioners canadd to it and improve it continuously. So please post your ideas on xxx.Marketers are the guardians of the company’s future: continuous growth inearnings flows from their
effective marketing 
. Yet who is responsible forensuring this happens? Is there a Marketing Director? Often no. Yet slowly,but surely, boards of companies across the UK have woken up to the factthat the most important questions in the business are marketing ones. Doour customers prefer our brand to that of our competitor? And how do wemeasure our marketing effectiveness?If your board has not got this far then go straight to
Getting Marketing on to the Board Agenda
.In the most progressive companies the debate is not whether to reviewmarketing in the board room, but what measures of marketing effectivenessto table. This ‘innocuous’ question touches a corporate nerve, as directorsrealise these measures may turn the whole enterprise to a new direction.And go to the measurement of company-wide marketing:
Pan Company Marketing 
, and then
The Balanced Scorecard 
, which, for practitioners hasmarketing relevance, provided that each set of measures are alignedultimately on the customer.The practitioners also propose ways of 
Measuring Reputation and Brand Equity 
, since every company manages the customer’s experiences.There is also a recognition that a mastery of ROI and practical deploymentare marketing weaknesses. Go to
Functional Marketing Effectivenes
, andPeter Doyle’s seminal piece on
Shareholder Value 
.Other long standing challenges to Marketing’s claims to effectiveness areaddressed under
Measuring Advertising and Promotion Performance 
,
Predicting Revenues 
, and
Utilising Market Research for Measurement 
.
- 3-© The Chartered Institute of Marketing

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