Informations and abstract
Keywords: marketing metrics, marketing decision process, measurement of business activities, measurement of business results
Notwithstanding its importance, marketing remain one of the least understood and measurable functions of many companies. Indeed, many top managers lack the knowledge necessary to evaluate marketing strategies, expenditures and results. Most marketing executives, for their part, often fail to develop the analytical skills needed to manage the marketing effort. Frequently, marketing men prefer to devise creative campaign to promote sales, but show little interest in the economic and financial aspects of their work. In this context, marketing decisions are frequently taken without a sufficient basis of information and data. This is the situation, but it starts to change. Marketers now recognize the importance of metrics and develop an increasing effort to understand the power of the marketing metrics now available to them. Consequently, an increasing number of managers are developing their fluency in marketing metrics with the aim to rise to senior levels of the company management. These managers will find very useful a recent book published by the Wharton School, "Marketing Metrics: 50+ Metrics Every Executive Should Master". The Authors of this book, Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer and David J. Reibstein, have indeed given us a very valuable box of tools to develop the essential knowledge for marketers. This book will help the readers to improve their market decision process through the measurement of business activities and results in order to grow their business.