Marketing Measurement and Accountability
Supervisor: Stan Maklan BSc MBA PhD
One of the most elusive challenges for Marketing is to assess the value of its activities and strategies in a manner that is meaningful to those responsible for allocating resources within a company.
For many years, Marketing bodies have called for more research in this area. Much has been written about the impact of improved disclosure of marketing measures (e.g. customer retention) upon share price. Yet, despite these calls for greater measurement and accountability, there is no clear consensus as to the development of an overall management assessment system for marketing, appropriate metrics to assess different marketing activities and how marketing metrics should be deployed.
Possible detailed areas of research:
1. Measuring the return on a specific area of marketing activity such as generating word of mouth / endorsement, advertising, publicity etc.
2. The impact of using marketing metrics, or a management assessment system (e.g. balanced scorecard), upon business performance and or marketing performance.
3. Case-based, grounded analysis of developing and implementing marketing measurement and accountability: a ?theory building? or development of a conceptual model.
Suggested basic reading:
1.Ambler, T. (2003), Marketing and the Bottom Line (2 edition), Pearson Education, London.
2.Ambler, T., Kokkininaki, F. and Puntoni, S. (2004), `Assessing Marketing Performance: Reasons for Metric Selection`, Journal of Marketing Management, Vol. 20, pp. 475-498.
Clark, B. H., Abela, A. V. and Ambler, T. (2004), "Return on Measurement: Relating Marketing Metrics Practices to Firm Performance", American Marketing Association. Conference Proceedings, vol. 15, pp. 46.
3. Morgan, N. A., Clark, B. H. and Gooner, R. (2002), "Marketing productivity, marketing audits, and systems for marketing performance assessment: Integrating multiple perspectives", Journal of Business Research, vol. 55, no. 5, pp. 363.
4.Rust, R., Ambler, T., Carpenter, G., Kumar, V. and Srivastava, R. (2004), `Measuring Marketing Productivity: Current Knowledge and Future Directions`, Journal of Marketing, Vol. 68, pp. 76-89.
5.Rust, R., Lemon, K. and Zeithaml, V. (2004), `Return on Marketing: Using Customer Equity to Focus Marketing Strategy`, Journal of Marketing, Vol. 68, No. 1, pp. 109-127.
Please note that Cranfield has a best practice club, a joint initiative with industry, devoted to this area ? Marketing Measurement and Accountability Forum and I can endeavour to make some of its resources available for the preparation of a research proposal. The URL is www.cranfield.ac.uk/som/mmaf