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Edited by Gary L. Lilien and Rajdeep Grewal
Chapter 38: Marketing Metrics in B2B Firms
38 Marketing metrics for B2B firms Raji Srinivasan Marketers are increasingly pressured to demonstrate the return on their firms’ marketing investments. As John Quelch (2005) noted in the Wall Street Journal: Today’s boards want chief marketing officers who can speak the language of productivity and return on investment and are willing to be accountable. In recent years, manufacturing, procurement, and logistics have all tightened their belts in the cause of improved productivity. As a result, marketing expenditures account for a larger percentage of many corporate cost structures than ever before. Today’s boards don’t need chief marketing officers who have creative flair but no financial discipline. They need ambidextrous marketers who offer both. Against this backdrop in business practice, marketing scholars have emphasized the importance of marketing metrics (Srivastava et al. 1998, 1999), especially as it relates to firm performance, including accounting performance (e.g. Erickson and Jacobson 1992) and shareholder value metrics (e.g. McAlister et al. 2007; Mizik and Jacobson 2003). Over the past few decades, marketers in business practice have developed myriad metrics for evaluating marketing performance (see Farris et al. 2009). Some of these include awareness, preference, purchase intent, share of wallet, customer satisfaction, loyalty and repeat purchase rate, to name a few. A large body of empirical work has examined the effects of various marketing actions, including branding (e.g. Rao et al. 2004), advertising (e.g. McAlister et al. 2007; Singh et al. 2005) and customer relationships (e.g. Gupta et al. 2004). Prior work in marketing has also studied...
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