Linking marketing actions to financial performance
Accountable Marketing is designed to be the definitive volume on the emerging role of accountability and performance metrics in marketing. Sponsored and developed by the Marketing Accountability Standards Board (MASB), it provides a multi-disciplinary, international perspective on this topic of critical importance.
Stewart and Gugel have curated the work of several leading marketing, finance and accounting professionals and academics on the topics of marketing accountability and financial reporting to create a volume that represents the best of MASB’s work over the last few years. The book not only emphasizes the importance of accountability in the marketing function, but also creates a dialogue among academics and practitioners about the importance of marketing in driving consistent growth in the organization, and the ways in which improved methods for measuring and forecasting contribute to the effectiveness of these marketing activities.
This book marks the first-ever reference point for practicing professionals, faculty and students interested in marketing accountability, the development of standards for marketing reporting, and developing stronger linkages between marketing activities and outcomes, and the financial performance of the firm.
Table of Contents
Preface Section 1 Introduction: Making Marketing Accountable 1. Delivering to the Marketing Accountability Mandate Margaret Henderson Blair, Mitch Barns, Kate Sirkin, and David W. Stewart 2. Lessons from the Quality Movement David W. Stewart Section 2 Language, Measures, and Metrics: Establishing Standards 3. Marketing’s Search for a Common Language Paul Farris and David Reibstein 4. Measuring Brand Preference Michael Hess and Allan R. Kuse 5. Measuring Return on Brand Investment Frank Findley 6. Customer Lifetime Value (CLV) and Its Relevance to the Consumer Packaged Goods (CPG) Industry V. Kumar and Sarang Sunder 7. Customer Lifetime Value in the Packaged Goods Industry Rick Abens and Debra Parcheta 8. What Is Known About the Long-Term Impact of Advertising Dominique M. Hanssens 9. Long Term Effects of Marketing Actions Michael Hess 10. Social Media - What Value for Marketing Measurement? Kate Sirkin Section 3 Linking Finance and Marketing 11. The Relationship of Marketing and Finance Don Sexton 12. Creating a Partnership Between Marketing and Finance James Meier 13. Reporting on Brands Roger Sinclair 14. Brand Valuation in Accordance with GAAP and Legal Requirements Marc Fischer 15. Corporate Brand – The Company’s Most Valuable Asset Jim Gregory 16. Implications of the Treatment of Marketing Expenses Michael L. Moore 17. Marketing Metric Audit Protocol (MMAP) David W. Stewart, Allan R. Kuse, Margaret Henderson Blair Section 4 Organizational Dimensions of Marketing Accountability 18. Navigating Barriers, Opportunity, and Change on the Marketing Accountability Journey, or Road to ROMI Meg Blair and Pam Hoover Forbus 19. Marketing Organization and Accountability David W. Stewart and Robert Winsor 20. Epilogue Craig Gugel and David W. Stewart
David W. Stewart holds the President’s Chair in Marketing and Law at Loyola Marymount University, USA. He is a former editor of the Journal of Marketing and the Journal of the Academy of Marketing Science and is the current editor of the Journal of Public Policy and Marketing. He is a co-founder and current chair of MASB and has consulted for a wide array of corporations, government agencies, and not-for-profit organizations.
Craig T. Gugel is Assistant Professor of Advertising & Marketing Communications at Fashion Institute of Technology and President, CEO and Chief Research Officer of Gugelplex TV, Inc., USA. He is an advisory council member of the Marketing Accountability Standards Board and co-manages its Book Project team.
Marketing science has empirically demonstrated the impact of marketing on business success. By promoting common standards and language, MASB is advancing the dialogue with finance about the value of marketing as an investment. MSI is pleased to be a charter sponsor of this effort. This must-read book provides a roadmap for the future of marketing accountability. –Katherine N. Lemon, Boston College, USA
After a number of years of hard work, the Marketing Accountability Standards Board has delivered on its promise: to get marketing and CMOs the kinds of measurement tools and empirical evidence that will get them seats at the table at the highest levels of organizations. Dave Stewart and Craig Gugel have curated a book that will be essential reading for all marketing managers and academics as well. –Russ Winer, Stern School of Business, New York University, USA
There is one group exclusively devoted to marketing measurement…predictive of financial return…and all marketers who are serious about meeting the accountability mandate should read this book and get involved. –Bob Liodice, President & CEO, National Association of Advertisers, USA
It is the most complex time in the history of advertising, yet the C-suite questions are simple: (1) "Do my marketing $ drive growth and sales?" and (2) "Where do I spend my next marketing $?" MASB’s work, focused on the accurate and comparable measurement of marketing efforts, is advancing the industry to respond to these C-suite needs and to drive much needed growth. –Gayle Fuguitt, President & CEO, The Advertising Research Foundation, USA
This book not only lays the groundwork for new working relations between finance and marketing, it also documents the process of initiating fundamental change in the business community through collaboration across industry lines. Through MASB’s efforts, we will soon have the measurement standards necessary for continuous improvement in financial performance. –Rajeev Batra, Ross School of Business, University of Michigan, USA