Abstract:
For too long, marketers have not been held accountable for showing a return on marketing expenditures. This lack of accountability has undermined the credibility of marketers, threatened the standing of the marketing function within a firm and even threatened the existence of marketing as a distinct capability of the firm.The research contained in this study highlights the internal and external factors driving marketing accountability. Bob Liodice, the President and CEO of the Association of National Advertisers defines marketing accountability “as the foundation for improving marketing, building business performance, enhancing productivity and streamlining critical processes.” In the face of increasing price pressure and declining customer loyalty, more than anything what Chief Executive Officers (CEO's) seek from marketing is differentiation, especially differentiation that is difficult for competitors to copy. As industry and national boundaries are blurring, the ability to think across industries, transcend culture and find universal truths is emerging as the new necessity. Never has there been a more auspicious time for marketing to take a leadership role through these organisation-wide transformations that have top- and bottom-line impacts. These findings provide insights around why marketing needs to evolve as a discipline as well as highlight the inhibiting factors for making this a practical reality. It is hoped that this study will encourage debate concerning what is already known about marketing performance and suggest areas for further research regarding the practical implications for such marketing accountability.
