Marketing Is The Key Driver Of Business Results, But Marketers Are Not In The Driving Seat

Marketing Is The Key Driver Of Business Results, But Marketers Are Not In The Driving Seat Improving marketing's effectiveness by enabling marketers to deliver their full potential for value creation could add 25% to a company's share price, according to the latest research, endorsed by The Chartered Institute of Marketing (CIM) as part of the 2002 Marketing Effectiveness Campaign. PA Consulting Group, in partnership with The Marketing Forum and Cranfield School of Management surveyed 156 senior UK marketers online during August 2002. The survey results show that Marketers unlock more of their value if they shift their focus to improving long-term economic profitability, rather than short-term volume and growth. The research also reveals several significant barriers to marketing success - marketing talent is patchy and systems and information often fall wide of the mark. Closing the gaps to achieve high performance marketing and a focus on long-term economic profitability is what is needed to ensure marketers live up to their full potential for customer and shareholder value delivery. High performance marketers are those that spread their focus onto profitability in the long term, and concentrate their efforts on their most valuable customers and products. Marketers are very good at creating customer value, the report finds, but less good at combining this with shareholder value and still lack business influence. The report also highlights a frequent lack of communication between finance and marketing departments. If marketing is to become more accountable, this rift needs to be addressed. Marketers need to gain more impact outside of the marketing function, the report suggests, and the aim should be to raise customer and market issues to the top of the CEO's agenda, where they can be more effectively addressed in order to drive business and marketing success. -ends- -note to editors- The full report is available as a PDF document at here For more information contact: Peter Fisk, PA Consulting Group, 020 7333 5422/Peter.Fisk@paconsulting.com Sandra Ingham, CIM, 01628427306/sandraingham@cim.co.uk Graham Kench, CIM, 01628 427356/grahamkench@cim.co.uk For marketing, CIM is the government approved awarding body for qualifications (UK), the international benchmark for standards, and the body supporting lifelong career development linked to CPD and Chartered status. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/04/20021004BIT00680/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/04/20021004BIT00680/wkr0002.pdf