Jun 11, 2009 0
Marketing: the search for fiscal discipline
Our article in the Jun ‘09 edition of ESOMAR’s Research World. Grab your copy here.
Professor Robert Shaw is Honorary Professor of Marketing Metrics at Cass Business School and the author of ten books including Marketing Payback, We talk to him about the current state of marketing effectiveness and his new initiative designed to improve it.
Q. What is your opinion on the effectiveness of marketing today?
A. Marketing is crucially important to all developed economies. Without marketing, price would be the main differentiator of products and services. The diversity of products and services in today’s economy owes its existence to marketing.
In the current recession, marketing is under extreme pressure, as cost cutting sweeps business. Luckily marketers have plenty of opportunity to improve their effectiveness, since in the boom years they had become very inefficient, and money was routinely wasted on marketing activities that did not deliver, and mistakes were ignored and often repeated.
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