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Truly Accountable Marketing: The Right Metrics for the Right Results

Abstract

Marketing accountability is essential for sustained organic growth, but the challenges to it loom large. The major steps in truly accountable marketing include defining the right results, using the right metrics and finally acting upon the collected insights. To identify the right metrics one has to start with defining the right results: What is the informed decision that needs to be made? But getting data-based answers to key questions is only half the battle. Actually acting upon it is the other half, and often companies are reluctant to change. To create momentum, marketing and finance need to pull together, and the selected metrics need to be useful to both mind-sets. Other proven ways to overcome resistance to data-based recommendations include moving to the proposed optimal allocation gradually and demonstrating the real-word gains through field experiments. When companies succeed in establishing truly accountable marketing, they improve and simplify recurring and quantifiable decisions, which leaves them more time to scan the environment for new opportunities and allows them to take smarter risks.

Open access
The Marketing Audit as a Method of the Evaluation of the Marketing Plan

Abstract

The growing complexity of the current market environment needs a more systematic evaluation process of the organizational marketing performance to deal with the dynamic market. This paper deals with marketing audit as a comprehensive assessment of all angles of marketing operation in an organization and also deals with systematic evaluation of plans, objectives, strategies, activities and organizational structure as well as marketing staff.

Open access
From Metrics to Action - Interview with Nicholas Chesterton, Unilever

Abstract

Even if you measure a lot, you can’t measure everything. Be it for a lack of available data, for instance, in some developing countries or be it because you just have to draw a line at some point. The art of using the collected data for making marketing truly accountable lies, according to Nick Chesterton, in knowing what individual metrics really mean and using the gained insights in subsequent processes. Follow Unilever on its path from metrics to action.

Open access
The Impact of the Internet of Things on Value Added to Marketing 4.0

Summary

The evolution in the field of information technologies that has taken place in recent decades has transformed the world. The marketing sector has undergone similar changes. At present, the internet as a groundbreaking achievement resulting from the evolution of information technologies is being integrated with marketing activities. Thanks to this we can witness a new generation of the activities referred to as the age of Marketing 4.0. It is urgently needed as today customers demand something more than just products that meet their basic needs, satisfy their desires, and soothe their anxieties. Clients are now looking for products that will allow them to fulfil their creativity and find the values defined by Marketing 3.0, however, they want to be able to become a part of the product, that is, to contribute and interact with the product, and then, harnessing information technologies - to share their experiences and verify if the product is actually fulfilling the task that it was meant to. This is also why marketing no longer focuses on the product - just like the internet no longer centres around data. At present, both marketing and the internet focus on clients and enhance the interactions between the client and the product; while doing this, they are based on the values of the users and offer them more data. This article presents the key elements of Marketing 4.0., discusses its relationship with the Marketing 3.0 concept and explains the extent to which next generation marketing is an extrapolation of the concept of Marketing 3.0. At the end, some examples of technologies from the Internet of Things, which facilitate interaction between the user and the products and the internet have also been provided.

Open access
Marketing’s Influence within Companies: Current Issues and their Possible Resolution

Abstract

Marketing is a fundamental business function which is directly connected to the company’s long-term performance. However, the marketing function seems to be marginalized in many companies. The main reasons for the relatively low power of the marketing function within the private sector are insufficient control of CMOs over marketing strategy and the marketing mix, lack of convenient measures for capturing the effectiveness and efficiency of marketing investments, the tactical and short-termed orientation of marketing departments, and last but not least the low reputation of the marketing profession. This study analyzes these four factors and proposes steps which can be undertaken by CEOs, marketers themselves and business faculties to leverage the influence of the marketing function and therefore also the overall performance of a company

Open access
Marketing in Sustainability Aspect as a New Culture of Marketing Activity of Companies

Abstract

The essence of this work is a new and rapidly growing trend in the area of marketing science called sustainable marketing. The introduction highlights the changes in the concept of marketing in the past decades, ranging from marketing sales through marketing focused on the needs and expectations of customers, to new marketing orientation called sustainability marketing. The first section of the article presents the evolution of marketing according to P. Kotler classified by the author as Marketing 1.0, 2.0 and 3.0. The second chapter presents the content related to the nature and importance of sustainable marketing, which as a new marketing concept, can be a source of competitive advantage of businesses. This part includes the definitions and concepts of sustainable marketing by different authors. The final part of the article indicates the main areas of sustainable marketing performed in businesses. The work is concluded with remarks

Open access
Lecturers as an Element of Higher Education Marketing

Abstract

The aim of this article is to determine the scope and the results of research on the perception of the teaching staff from the perspective of internal and external Polish universities as well as the assessment of utilization of these resources in the light of the knowledge of marketing service organization. Test methods used in the article include: an analysis of Polish and foreign periodicals in the field of management and marketing of higher education, diagnosis the teaching staff role as a special resource of the university marketing and to formulate the conditions of effective academic staff marketing in order to build the strengthen brand of universities in the local and foreign markets.

Open access
Use of Content Marketing Strategy Tools in the Polish Research Institutes

Abstract

In the article were described issues associated with the use by scientific institutions content marketing strategy tools. This article shows the extent to which tools of modern marketing are used in the Internet communication by scientific institutions. Currently content marketing concept is accepted not only as a fashionable trend of modern marketing but above all, it is treated as an important tool to improve enough Internet message, to effectively interest to the users. A optimal selection and use content marketing tools it provides opportunities for enhancing efficiency in the reception (acceptance) of the generated message.

Open access
The focus of marketing communication efforts of smes within south Africa

Abstract

Marketing communication is seen as a vital activity for the survival and success of SMEs. Traditionally tools such as pamphlets, local newspapers, posters and business cards were primarily used to promote SMEs. Today, however, the communication landscape has evolved due to technological advancements. As a result, there are many more communication tools that can be used by SMEs to conduct marketing communication activities of the business. The focus of this study is thus to determine the usage of traditional and technology-enabled marketing communication tools employed by SMEs in South Africa. A self-administered questionnaire was used to collect data from SMEs in South Africa. The results of this study indicate that most SMEs make use of e-media such as websites and e-mails as marketing communication tools. This article provides insight into the marketing communication tools that are being used by SMEs in South Africa which will contribute to the understanding of SMEs marketing practices. Studies suggest that there are many similarities regarding the challenges faced by SMEs globally and as such the findings of this study can be applied universally.

Open access
Marketing Communications as Important Segment of the Marketing Concept

Summary

New frameworks operating at the international level have led to the need for a broader and more complex involvement of companies in international economic flows. In such circumstances, focus on the international and global markets becomes inevitable. Each segment companies must adapt and evolve in accordance with such conditions. Marketing as an important activity of the company in selling products or services is also changing and expanding its activities in line with international market. This leads to the creation of an international marketing concept and system as a specific approach to the processing of international economic relations. An important segment of implementation of the marketing concept is the marketing communication, which in terms of the limited number of international barriers. It is certainly possible to overcome with a well-defined marketing strategy. Clearly defined marketing strategy and well-prepared marketing mix remove barriers, to meet the set goals and lead to positive results for the company.

Open access