Investment or Expense? The Case for Marketing

marketing-word-cloudMarketing is not for the faint of heart. Marketing executives are judged on their product’s success in the market. They must constantly justify their budget by measuring it against their objectives and the gross profit and sales generated. Over the decades products and their success have pole vaulted many a career, and have buried many others. For a long time, that was just the way it was, and often this approach pitted the marketing people against the finance people. It was this way because marketing, and the dollars allocated to it, were often viewed by companies as a necessary expense that had to be constantly justified and monitored.

The debate over expense versus investment will continue for awhile longer, but what has become clear is that without a company-wide marketing focus based on market share growth and predictable profits, companies will continually struggle. Marketing is just this important – a major success component – and to do it well takes leadership, management, planning and a fair dose of “guts.”

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Bill McBean

Bill McBean

Bill McBean, author of The Facts of Business Life: What Every Successful Business Owner Knows that You Don't, spent many of his nearly forty years as a successful business owner in the automobile industry where, he purchased several underperforming dealerships and turned them into a successful business enterprise with yearly sales of more than $160 million. McBean is involved in several new businesses, including McBean Partners, an investment and business mentoring company, and Net Claims Now, which provides administrative services and support to the restoration industry.

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