1、Marketing is an investmentBy Ian WhittakerForeword.3Summary.4Part one:The problem.9Part two:Investment analyst18 survey findings.Part three:Evidence from global brand30 owners on marketing,price and profit.Part four:How to make a more persuasive38 case that marketing is an investment.Appendix.46Endn

2、otes.48ContentsThis report was written by Ian Whittaker,a former City equities research analyst who is now the Founder and Managing Director of Liberty Sky Advisors,a consultancy that advises agencies and companies across the technology,media and telecoms space.Additional editing by Carlos Grande,IP

3、A Editorial Consultant.Back to contents pageMarketing is an investment|IPA|2ForewordBuilding on those insights,this report aims to encourage corporate marketers to increase their efforts to persuade analysts and the wider investor community that spend on effective marketing,with the emphasis on bran

4、d building activities,is primarily an investment in a companys future,rather than a cost in its present.We are conscious that changing attitudes to marketing is a marathon,not a sprint.The messages and recommendations in this report will need to be continually reinforced and supported by the right r

5、esearch and communication.However,when it succeeds,this journey could cement understanding of the central role of marketing investment in generating long-term value for businesses.Laurence Green,IPA Director of EffectivenessThis report examines the contexts and beliefs around marketing expenditure.I

6、t includes the results of an exclusive survey from Brand Finance into perceptions about marketing among UK and US investment analysts.Among analysts,our research found much increased scrutiny of corporate reporting on marketing and a desire for more transparency on marketing strategies.It also revea