23 October 2002
Marketers and finance directors have differing views over the effectiveness of marketing, according to the latest surveys from Continental Research and The Chartered Institute of Marketing (CIM).
CIM's summer Marketing Trends Survey (MTS) shows that marketers see increased customer satisfaction as the most important factor in making marketing effective, while only 13% of finance directors and CEOs agree that marketing has a 'considerable effect' on increasing customer satisfaction, according to the latest business omnibus survey. A more detailed comparison of the results reveals further differences between the professions.
Perhaps surprisingly, just 6% of finance directors and CEOs see marketing as having a 'considerable effect' on competitiveness. Only 10% see marketing as a key driver of business results.
Financial resources are the key to improving marketing effectiveness, according to the marketers, while 37% of finance directors and CEOs say that it is 'very important' for marketers to stick to their marketing budgets.
As attentions turn to ensuring effectiveness in marketing, 37% of the finance directors and CEOs interviewed see the ability to implement good marketing plans as 'very important' in achieving business success, while marketers rate implementation of marketing programmes second in their ranking of essential skills for marketers.
These new results show that there is still a considerable divergence of views between marketers, finance directors and CEOs, especially about the cycle of financial resources between the finance and marketing functions.
For more information please contact Sandra Ingham on 01628 427306