Measuring Marketing Productivity: Current Knowledge and Future Directions:
TL;DR: For too long, marketers have not been held accountable for showing how marketing expenditures add to shareholder value as mentioned in this paper, and this lack of accountability has undermined marketers' credibility, threatened the standing of the marketing function within the firm, and even threatened marketing's existence as a distinct capability.
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Abstract: For too long, marketers have not been held accountable for showing how marketing expenditures add to shareholder value. As time has gone by, this lack of accountability has undermined marketers’ credibility, threatened the standing of the marketing function within the firm, and even threatened marketing’s existence as a distinct capability within the firm. This article proposes a broad framework for assessing marketing productivity, cataloging what is already known, and suggesting areas for further research. The authors conclude that it is possible to show how marketing expenditures add to shareholder value. The effective dissemination of new methods of assessing marketing productivity to the business community will be a major step toward raising marketing’s vitality in the firm and, more important, toward raising the performance of the firm itself. The authors also suggest many areas in which further research is essential to making methods of evaluating marketing productivity increasingly valid,...
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Citations
Customer Satisfaction, Profitability, and Firm Value in the Hospitality and Tourism
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Abstract: Customer satisfaction has been considered one of the most prominent factors in the measurement of marketing strategies and performances. On the other hand, profitability and value of firm are important indicators of companies’ financial performance. Considering the unique differences from other industries (e.g., intangibility, variability, etc.), this study assumes that the hospitality industry will be more vulnerable to customer satisfaction than any other industry in terms of the firm’s profitability and value. Based upon this presumption, this study empirically examines whether the customer satisfaction index (CSI) influences the companies’ financial performance in the hospitality and tourism industry (i.e., hotels, restaurants, and airlines). Findings suggest that the impact of customer satisfaction is only reflected in the return on equity (ROE) which is proxy of a firm’s profitability. This result indicates that marketing strategy for customer satisfaction affects a firm’s short-term profitability in the hospitality and tourism industry. Possible further implications are also
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