Abstract
Marketing is being challenged and has few responses when it comes to providing a financial view of Investment and returns. In this paper the author develops a step-by-step approach to help marketing managers provide answers to the three questions senior management continues to ask of marketing and communication managers: (1) how much should the firm invest in marketing and communication, (2) what will be the return and (3) over what period of time will those returns occur? Schultz argues for a financial model that involves estimating the value of customer groups, investing at the appropriate level and then measuring both the short-term and long-term returns for the organisation.
Original language | English (US) |
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Pages (from-to) | 349-358 |
Number of pages | 10 |
Journal | Journal of Medical Marketing: Device, Diagnostic and Pharmaceutical Marketing |
Volume | 2 |
Issue number | 4 |
DOIs | |
State | Published - Sep 2002 |
Keywords
- ROI
- financial value
- long-term vs short-term returns
- measurement methodology
ASJC Scopus subject areas
- Medicine (miscellaneous)
- Pharmacology, Toxicology and Pharmaceutics (miscellaneous)
- Strategy and Management
- Marketing