Controlling marketing and the measurement of marketing effectiveness 529
accounting system. If such a change is not
made, it is quite likely that the business will be
using inappropriate performance measures,
which may motivate marketing managers to act
against the long-term best interests of the
overall business. Another potential risk is that
the management information system does not
provide adequate timely decision support
information for the new, key strategic decisions
which the business faces as a result of the
change in strategy. Many businesses are taking
critical marketing decisions with very little
strategic financial evaluation, because they do
not have suitably tailored marketing account-
ing systems. In such businesses there is no real
‘strategic control over marketing’.
This chapter has tried to indicate how such
strategic control over marketing can be ach-
ieved. Many of the areas considered in the
chapter require complete books to deal with
them in depth. Obviously, restrictions of space
have necessitated a very brief overview of these
areas; however, there are references and recom-
mendations for further reading which should
enable those interested to examine particular
areas in significantly greater depth.
References
A market-focused mission
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Must Finance and Strategy Clash?, Harvard
Business Review, September–October.
Rappaport, A. (1981) Selecting Strategies That
Create Shareholder Value, Harvard Business
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Ward, K. and Grundy, A. (1996) The Strategic
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A sustainable competitive advantage
Porter, M. E. (1987) From Competitive Advan-
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Prahalad, C. K. and Hamel, G. (1994) Compet-
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Ward, K. (1997) Competitor Analysis, ICAEW
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Bowman, C. and Ambrosini, V. (2000) Value
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Hamel, G. (1997) Killer Strategies That Make
Shareholders Rich, Fortune, 23 June.
Kaplan, R. S. and Norton, D. P. (1992) The
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Kaplan, R. S. and Norton, D. P. (1993) Putting
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Luehrman, T. A. (1998) Investment Opportun-
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Numbers, Harvard Business Review, July–
August.
Ward, K. and Ryals, L. (2001) Latest Thinking
on Attaching a Financial Value to Market
Strategy: Through Brands to Valuing Rela-
tionships, Journal of Targeting, Measurement
and Analysis for Marketing, 9 (4).Further reading
A market-focused mission
Rappaport, A. (1986) Creating Shareholder Value,
Free Press, New York.
Thakor, A. V. (2000) Becoming a Better Value
Creator, Jossey-Bass, San Francisco.A sustainable competitive advantage
Hamel, G. and Prahalad, C. K. (1994) Competing
for the Future, HBS Press.