عنوان انگلیسی مقاله:

An approach to mastering the marketing mix

ترجمه عنوان مقاله: روشی برای تسلط آمیخته بازاریابی

رشته: بازاریابی

سال انتشار: 2007

تعداد صفحات مقاله انگلیسی: 18 صفحه

منبع: Emerald

نوع فایل: pdf

دانلود دانلود اصل مقاله

چکیده مقاله

Purpose: The goal of this paper is to use three condensed case studies to present an analytical ROI framework that helps marketers make sense of complex and seemingly chaotic marketing investment patterns and allows them to quickly reach conclusions about future marketing commitments.

Design/methodology/approach: The article focuses on three marketing science techniques with roots in econometric analysis. The three techniques are: structural equation modeling, historical analyses, and in‐market experiments.

Findings: The case studies give evidence of hard returns not only in terms of marketing funds conserved but also in terms of revenue gains, more positive brand equity, and greater marketing efficiency. The article suggests that changes in marketing practices to include the new ROI techniques will yield measurable benefits.

Practical implications: The article will be of value to marketing leaders, brand managers, and senior executives who seek quantifiable returns from their marketing functions. The three quantitative techniques described make sense of previously inscrutable marketing choices such as spending more on word‐of‐mouth campaigns than on national advertising or selecting one direct‐mail approach over another.

Originality/value: To date, marketing ROI work has been constrained by confusion over ROI definitions, by decisions about what data to collect, and by an emphasis on pricing, coupons, and promotions rather than broader marketing questions about, say, the efficacy of direct mail or the impact of regional advertising. The article reports on a fresh approach termed marketing science – techniques whose fact‐based analyses make it easier for managers to decide where to invest.

Keywords: Return on investment, Marketing mix, Mathematical modelling

Type: Case study

 

مقدمه مقاله

with eyes fixed firmly on growth, CEOs are now acutely aware that their marketing investments are perhaps the last significant elements appearing on financial statements that lack clear links to revenues and profits. CFOs are in lockstep with CEOs, calling for results from the last few quarters’ investments and limiting future spending if they don’t like what theyA see. In fact, it is common for most C-suite executives to view marketing as a sinkhole full of investments with undocumented returns.

Marketers are in no position to argue. They do not deny that competitive pressures are more intense and profit margins remain vulnerable. Yet they are compelled to support faster and more frequent new product introductions – another outcome of fierce global competition. They have to do so with hands tied behind their backs, because they lack the ROI data to make a compelling case for suitable budgets. And today, the corporate marketing department no longer has the influence it once enjoyed.

Financial pressures, a shift in channel power, and marketing’s inability to document its contribution to business results have combined to force reductions in marketing spending and influence, and to accelerate a transfer of funds and responsibilities to the field sales organization, notes Dartmouth’s Tuck School of Business Professor Frederick Webster Jr, in a recent article in MIT Sloan Management Review. Webster and his co-authors point out the dangers in the disintegration of the marketing function – a short-term focus that hurts product innovation, weakens brands, and impairs companies’ abilities to identify and reach future customers and markets.

Marketers face an uphill struggle. More than one-third of CEOs say their marketing organizations need improvement. Some chief marketing officers (CMOs) and their lieutenants are making heroic efforts to communicate in fiscal terms, as demonstrated in the regular ROI sessions at the annual CMO Summit, hosted by McKinsey & Co., the Marketing Science Institute, and the Wharton School of the University of Pennsylvania.

The extent of the struggle can be seen in recent surveys. According to the 2005 Marketing ROI and Measurement Benchmark Study from consultancy Lenskold Group and MarketingProfs.com, only one in five marketers uses marketing ROI, net present value, or another profitability measure for at least some of their marketing work. More than half admit that their ability to measure financial returns is ‘‘a long way from where it could be.’’ It is not surprising that the average tenure of CMOs for North America’s top 100 branded companies is less than 24 months.

http://modir3-3.ir/images/%D8%B3%D9%81%D8%A7%D8%B1%D8%B4%20%D8%AA%D8%B1%D8%AC%D9%85%D9%87%20%D9%BE%D8%A7%DB%8C%D8%A7%D9%86%20%D9%86%D8%A7%D9%85%D9%87.png