ABSTRACT
The era of financial engineering for shareholder value winds down and in response to mounting pressure from corporate boardrooms for accountability, marketing professionals are stepping up, beginning to master and apply the science of measurement and process management to the art of marketing. The era of marketing engineering will involve both science and governance, with the role of marketing measurement central, integrated with other metrics along the value chain and institutionalized across the business enterprise. The Marketing Accountability Standards Board (MASB) is serving in this capacity as the independent, cross-industry forum where marketing and finance professionals are setting measurement and accountability standards for creating value in the twenty-first century. The most important barrier to confront and overcome at the onset of the journey is fear of change, and there will be plenty of it, especially with regard to marketing communications. The return on marketing investment (ROMI) journey with the marketing communications activity having the greatest costs and return potential.
