Demonstrating the value of marketing

Name: Demonstrating the value of marketing
Author: Hanssens, D. M., Pauwels, Koen Hendrik

İsim	Demonstrating the value of marketing
Yazar	Hanssens, D. M., Pauwels, Koen Hendrik
Basım Tarihi:	2016-11
Konu	Accountability, Marketing effectiveness, Efficiency, Return on marketing investment, Marketing value assessment
Tür	Süreli Yayın
Dil	İngilizce
Dijital	Evet
Yazma	Hayır
Kütüphane:	Özyeğin Üniversitesi
Demirbaş Numarası	1547-7185
Kayıt Numarası	c4d29dab-0a22-4761-b8d7-645ebf8548a8
Lokasyon	Business Administration
Tarih	2016-11
Örnek Metin	Marketing departments are under increased pressure to demonstrate their economic value to the firm. This challenge is exacerbated by the fact that marketing uses attitudinal (e.g., brand awareness), behavioral (e.g., brand loyalty), and financial (e.g., sales revenue) performance metrics, which do not correlate highly with each other. Thus, one metric could view marketing initiatives as successful, whereas another could interpret them as a waste of resources. The resulting ambiguity has several consequences for marketing practice. Among these are that the scope and objectives of marketing differ widely across organizations. There is confusion about the difference between marketing effectiveness and efficiency. Hard and soft metrics and offline and online metrics are typically not integrated. The two dominant tools for marketing impact assessment, response models and experiments, are rarely combined. Risk in marketing planning and execution receives little consideration, and analytic insights are not communicated effectively to drive decisions. The authors first examine how these factors affect both research and practice. They then discuss how the use of marketing analytics can improve marketing decision making at different levels of the organization. The authors identify gaps in marketing’s knowledge base that set the stage for further research and enhanced practice in demonstrating marketing’s value.
DOI	10.1509/jm.15.0417
Cilt	80

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Demonstrating the value of marketing

Yazar Hanssens, D. M., Pauwels, Koen Hendrik

Basım Tarihi 2016-11

Konu Accountability, Marketing effectiveness, Efficiency, Return on marketing investment, Marketing value assessment

Tür Süreli Yayın

Dil İngilizce

Dijital Evet

Yazma Hayır

Kütüphane Özyeğin Üniversitesi

Demirbaş Numarası 1547-7185

Kayıt Numarası c4d29dab-0a22-4761-b8d7-645ebf8548a8

Lokasyon Business Administration

Tarih 2016-11

Örnek Metin Marketing departments are under increased pressure to demonstrate their economic value to the firm. This challenge is exacerbated by the fact that marketing uses attitudinal (e.g., brand awareness), behavioral (e.g., brand loyalty), and financial (e.g., sales revenue) performance metrics, which do not correlate highly with each other. Thus, one metric could view marketing initiatives as successful, whereas another could interpret them as a waste of resources. The resulting ambiguity has several consequences for marketing practice. Among these are that the scope and objectives of marketing differ widely across organizations. There is confusion about the difference between marketing effectiveness and efficiency. Hard and soft metrics and offline and online metrics are typically not integrated. The two dominant tools for marketing impact assessment, response models and experiments, are rarely combined. Risk in marketing planning and execution receives little consideration, and analytic insights are not communicated effectively to drive decisions. The authors first examine how these factors affect both research and practice. They then discuss how the use of marketing analytics can improve marketing decision making at different levels of the organization. The authors identify gaps in marketing’s knowledge base that set the stage for further research and enhanced practice in demonstrating marketing’s value.

DOI 10.1509/jm.15.0417

Cilt 80