It is clear to all that business performance is continually impacted by marketing activities (controllable) and marketplace activities (little to no control). But it is notoriously difficult to quantitatively measure and evaluate the impact of such marketing activities. Additionally, it is very difficult to differentiate clearly between the marketing actions that are working and those that are not; making it difficult to learn and build a better marketing strategy. “I waste half of the money I spend on advertising. I just don’t know which half” is a famous quote first attributed to John Wanamaker a US store merchant in 1862. The sad news is that we hear it all too often even today.
