RETURN ON INVESTMENT IN MARKETING

BY :

Aprison Irsyam








age 2 of 17
!"#$% '( )'*!%*!+
!"#$% '( )'*!%*!+ ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, -
)."/!%0 1, 1*!0'23)!1'* ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 4
)."/!%0 11, 21+)3++1'* '* 5"06%!1*7 "+ "* 1*8%+!5%*! ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 9
2.1. l8AMLWC8k Cl ln1LC8A1lnC MA8kL1lnC Anu llnAnCL ........................................................ 3
2.2. CuS1CML8 MAnACLMLn1 .................................................................................................. 9
2.3. 8CuuC1 MAnACLMLn1 .................................................................................................. 10
2.4. 88Anu MAnACLMLn1 ..................................................................................................... 12
)."/!%0 111, )'*)$3+1'* "*2 0%5"06+ ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, :;
#1#$1'70"/.< ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, :=


age 3 of 17
),"-!%. /0 /*!.'12)!/'*
1echnologlcal developmenLs make broadcasL medla, boLh audlo and vldeo, as a means Lo
grab Lhe aLLenLlon of cusLomers and poLenLlal cusLomers, are wldely used by markeLers.
MeLhods such as mass markeLlng ls sLarLlng Lo lose effecLlveness, because a conslderable cosL
and lnablllLy Lo LargeL speclflc LargeL audlence.
1

Several Lrends show lneffecLlveness ln Loday's mass medla, among oLhers:
1. 1he growLh raLe of medla
ln Lhe unlLed SLaLes, Lhere were approxlmaLely 1,600 number of Lelevlslon channel,
boLh regular Lelevlslon and cable Lv. 1he same Lrend also occurred ln Lurope.
2. MulLlLasklng
?ouLh and buslness people ln Lhe unlLed SLaLes nearly 80 ln a mulLlLasklng acLlvlLy,
for example whlle browslng, as well as llsLenlng Lo a song, Lurn on Lhe 1v or whlle
phoned.
3. SwlLchlng Cff
Slnce Lhe number of channel cholces avallable, Lhe audlence Lends Lo change Lhe
channel or sLaLlon aL Lhe Llme of broadcasL adverLlslng.
ln addlLlon, wlLh a very wlde range of lnLerneL world allows cusLomlzed conLenL
approprlaLe conLexL of Lhe audlence LhaL wlll be LargeLed. AnoLher advanLage ls Lhe cheaper
cosL, accounLable and measurable. 1he response Lo Lhe LargeL was also more speclflc, for
example, wlLh follow-up vla emall, onllne chaL, eLc..
Cn Lhe oLher hand, Lhe cosLs lncurred for markeLlng acLlvlLles lncreaslngly requlred Lo be
more efflclenL. lL has always been Lhe eLernal confllcL beLween markeLers and accounLanLs ln
parLlcular. lf cosLs can be speclflcally LargeLed and response Lo markeLlng acLlvlLy can be
measured speclflcally, Lhe effecLlveness of markeLlng acLlvlLy should be measured preclsely.
Advances ln Lechnology wlLh lLs lnLerneL world has enabled lL can be done.
Powever, noL all markeLlng acLlvlLy can be seen ln a currenL year. AccounLlng paradlgm
always measure Lhe efflclency and effecLlveness wlLhln a cerLaln Llme should be shlfLed so LhaL
markeLlng acLlvlLles are noL consldered a source of expense or cosL alone. lf Lhe process of
bulldlng and communlcaLlng wlLh cusLomers, boLh ln Lhe conLexL of Lhe acqulslLlon, reLenLlon
age 4 of 17
and lncrease loyalLy can be measured wlLh a cerLaln varlable, Lhen all Lhe cosLs lncurred for
Lhese acLlvlLles from Lhe cusLomers ln Lhe approach, dlreLensl Lo sLop belng a cusLomer of a
company can be consldered as a markeLlng lnvesLmenL by Lhe company Lo Lhe consumer.
!usL llke bulldlng an asseL LhaL wlll be used Lo generaLe revenue for Lhe company ln Lhe
fuLure, Lake more Lhan one year Lo bulld lL up Lo be able Lo operaLe. Slmllarly, Lhe markeLlng,
all Lhe accumulaLed cosLs, programs, and acLlons of Lhe company ls lnvesLlng ln lLs cusLomers.
Cf course Lhls wlll be a huge lmpacL for Lhe daLabase managemenL of Lhe program, cosLs, and
consumer markeLlng acLlvlLles should be prepared, measured and managed properly.




















age 3 of 17
),"-!%. //0 1/+)2++/'* '* 3".4%!/*5 "+ "*
/*6%+!3%*!
7080 (9:;<=>9? >@ /AB<C9:BDAC 3:9?<BDAC :AE (DA:AF<
1o be able Lo lnLegraLe Lhe funcLlons of MarkeLlng and llnance, Lhen Lhe flrsL Lhlng
LhaL musL be synchronlzed ls a common percepLlon of Lhe:
a. llnance polnL of vlew on lnvesLmenL, LhaL lL can be seen as an lnvesLmenL of
markeLlng acLlvlLles on cusLomer, producL and brand, and;
b. MarkeLlng vlewpolnL on lLs core funcLlons of cusLomer managemenL, producL
managemenL and brand managemenL, so LhaL llnance people wlll be able Lo
undersLand why markeLlng acLlvlLy ls an lnvesLmenL.
ln hlgh-level, markeLlng funcLlons can be seen ln Lhe charL below
2
:

lrom Lhe descrlpLlon above, Lhere are Lhree maln Lasks ln markeLlng:
a. CusLomer ManagemenL
1he maln purpose of Lhls funcLlon ls how Lo wln Lhe mlnd of cusLomers. Companles
wlLh llmlLed resources should be able Lo focus lLs efforLs Lo a cerLaln polnL. 1hls ls
done by performlng Lhe followlng sLeps:
- SegmenLaLlon
age 6 of 17
SegmenLaLlon ls Lhe process of sorLlng ouL Lhe markeL based on cerLaln crlLerla.
1he crlLerla used may lnclude demographlcs, geography, psychography, or
behavlor
3
.
- 1argeLlng
Cnce Lhe markeL ls segmenLed and vlewed ln accordance wlLh Lhe producL, Lhen
we can perform furLher analysls Lo see Lhe markeL slze and proflLablllLy of Lhe
lnLended LargeL markeL LhaL wlll be LargeLed. 1hen measurlng and prlorlLlzlng
Lhe segmenL so LhaL LargeLs LhaL wlll be addressed by Lhe company can be seL
properly.
- oslLlonlng
AfLer LargeLLlng on Lhe markeL, nexL Lhe company wlll seL lLs poslLlonlng ln Lhe
form of an absLracL markeL (segmenLaLlon) ln Lhe mlnds of cusLomers relaLlve Lo
Lhe compeLlLlon ln Lhe markeL. oslLlonlng ls Lhe baLLle Lo geL a place ln Lhe
mlnds of cusLomers
4
.
b. roducL ManagemenL
Cnce Lhe cusLomer managemenL process ls compleLed, Lhen proceed wlLh Lhe
managemenL producL process LhaL dellvers Lhe physlcal producLs of Lhe company Lo
Lhe consumer. Some of Lhe core processes LhaL exlsL aL Lhls sLage are:
- ulfferenLlaLlon
ulfferenLlaLlon ls Lhe degree Lo whlch Lhe value and meanlng of a producL
(goods, servlces, or funcLlons), wheLher real or percelved value, raLlonal and
emoLlonal value, percelved by consumers relaLlve Lo oLher producLs ln Lhe same
LargeL markeL. lf Lhe poslLlonlng ls Lhe percepLlon of Lhe producL Lo be bullL
from Lhe polnL of vlew of Lhe manufacLurer, Lhen Lhe percepLlon of producL
dlfferenLlaLlon ls formed ln Lhe mlnds of consumers.
- MarkeLlng Mlx
MarkeLlng mlx can be vlewed as a collecLlon of varlables LhaL can be used by
managers Lo esLabllsh Lhe sale. known as Lhe 4s, namely roducL, rlce, lace,
romoLlon. 1here ls crlLlclsm of Lhls concepL because lL ls orlenLed from Lhe
polnL of vlew of Lhe manufacLurer, whlch brlng ouL Lhe concepL of 4C CusLomer
value (vs. roducL), CusLomer CosL (vs. rlce), Convenlence (vs. lace) and
CommunlcaLlon (vs. romoLlon). ulfferenLlaLlon of Lhe company should be
reflecLed ln Lhe company's MarkeLlng Mlx.
age 7 of 17
- Selllng
Selllng ls Lhe ulLlmaLe purpose of markeLlng acLlvlLles, whlch wlll brlng ln cash
flow for Lhe company. Powever, acLlvlLles of Lhe company do noL have Lo sLop
here. Lvery lnLeracLlon wlLh Lhe cusLomer sLlll needs Lo be malnLalned and
measured so lL encourages repeaLed sales, and enable Lhe creaLlon of cross-
selllng and up-selllng.
c. 8rand ManagemenL
8rand ls a label LhaL glves Lhe assoclaLlon and Lhe sense of a Lhlng. A brand ls a
represenLaLlon of all Lhe acLlvlLles of Lhe company, ranglng from Lhe processlng of
raw maLerlals, producLlon, packaglng, work eLhlc and all Lhe Lhlngs conLalned ln Lhe
company. 8rand faclllLaLe poslLlonlng and dlfferenLlaLlon LhaL had been seL ln Lhe
prevlous process. 8rand conLalns a promlse LhaL wlll be dellvered by Lhe company
for producLs and servlces. Some of Lhe ma[or acLlvlLles relaLed Lo brand
managemenL ls as follows:
- 8randlng
8randlng ls Lhe process of bulldlng a brand for a producL. A brand musL be
explaln ln Lhe aLLrlbuLes, so Lhe values and assoclaLlons whlch Lhe company
lnLend Lo dellvered ln Lhe brand can be undersLood by Lhe cusLomer.
- Servlce
Lvery buslness ls dellvers a servlce, regardless of Lhe ob[ecL belng sold by Lhe
company. Servlce provlded by Lhe company should be ln llne wlLh Lhe brand
used by Lhe company. An example ls Lhe 1une PoLel. 8randlng LhaL Lhe company
wanL Lo dellvered ls cheap lodglng for Lhe Lraveler ln a sLraLeglc place. 1o
supporL Lhls brandlng, servlce provlded by 1une PoLel ls very speclflc and
llmlLed, and can be flexlbly adapLed Lo Lhe cusLomer's needs. 1ravelers usually
noL ln Lhe hoLel durlng Lhe day, Lhen Lhe presence of alr condlLlonlng servlce
LhaL can be chosen by Lhe consumer, wheLher lL ls avallable for 12 hours or 24
hours.
- rocess
8ulldlng a brand ls an ongolng process. 1he LrusL acqulred by Lhe company on lLs
brand aL Lhe momenL, ls Lhe accumulaLlon of all Lhe efforLs Lhe company had
been made slnce Lhe brand ls presenL. SomeLlmes Lhere are a challenge from
age 8 of 17
compeLlng brands, LhaL has a value LhaL ls slmllar Lo our brand, so Lhe
companles need Lo sharpen Lhe brand poslLlon LhaL has been bullL.
AfLer comprehendlng Lhe above markeLlng funcLlons, lL can be concluded LhaL all Lhe
efforLs of Lhe markeLlng efforLs are lnLegraLed wlLh each oLher LhaL ln Lhe end wlll be
broughL ln a brand. 8rand lLself ls a conLlnous and an ongolng process.
WhaL happens Lo Lhe markeLlng and brand Lhey bullL, has slmllarlLles ln Lhe
lnvesLmenLs made by Lhe company. 1he company wlll always lnvesL Lo expand lLs
buslness, wheLher ln order Lo lmprove Lhe efflclency and lncrease Lhe capaclLy, wlLh Lhe
hope Lo lncrease Lhe value of Lhe company. 8rand also had Lo be bullL conLlnuously so
LhaL consumers are wllllng Lo buy more Lhan [usL Lhe physlcal value conLalned ln Lhe
company's producLs. As an example we can see SLarbuck. 8aslc maLerlals are coffee
beans, lL only cosLs 1-2 cenLs per cup, buL a cup of coffee wlLh SLarbuck brand sale for 2-
3 dollars per cup.
lf all Lhe cosLs of markeLlng acLlvlLles can be percelved as lnvesLlng acLlvlLles ln flnance,
Lhen ln general Lhe value of Lhe reLurn LhaL can be calculaLed as follow:
8Cl =
!"# !"#! !"#$%&! ! !"#! !"#$%!&
!"#$! !"#$%!&
from llnance vlewpolnL,
from MarkeLlng vewpolnL ls
8CMl =
!!" !"#$$ !"#$%&! !"# !"#$%&'() !"#$%&'$"&
!"# !"#$%&'() !"#$%&'$"&
, where:
8CMl = 8eLurn on MarkeLlng lnvesLmenL
nv Cross Margln = resenL value from lncremenLal proflL and cosL of good sold
ln order for Lhe nv calculaLlon ls noL only a hlgh-level slde, Lhen every ma[or
markeLlng process can be descrlbed so LhaL when we manage Lhe process, Lhere ls a
reference polnL so LhaL Lhe markeLlng acLlvlLles of Lhe company acLually add value ln Lhe
long Lerm.
age 9 of 17
7070 )GHB>;<9 3:A:C<;<AB
lrom a markeLlng perspecLlve Lhe cosL ls ln Lhe area of cusLomer managemenL, Lhe
exlsLlng relaLlonshlp beLween varlables can be descrlbed as follows:

1he flrsL cosL dlsbursed by Lhe company ls Lhe cosL Lo geL cusLomers Lo conducL
LransacLlons wlLh Lhe company. 1hls cosL ls called Lhe CusLomer AcqulslLlon CosL.
1hroughouL Lhe relaLlonshlp wlLh Lhe cosLumer Lhere wlll be a cosL Lo keep Lhe
cusLomers (reLenLlon cosLs) and revenue earned from Lhe sales Lo Lhe cusLomer.
AcqulslLlon cosL plus reLenLlon cosL subsLracL wlLh Lhe proflL from LransacLlons wlLh
each cusLomer, we can obLaln break-evenL analysls for each cusLomer. lrom Lhls value,
Lhe company can classlfy whlch cusLomers are proflLable and whlch are noL, so lL can be
deslgned ln a program or acLlvlLy LhaL ls sulLable for each cusLomer. lurLhermore, we
can calculaLe Lhe presenL value of all proflLs come from each cusLomer Lo deLermlne
cusLomer llfeLlme value.
lrom Lhe above, Lhe neL value of Lhe cusLomer llfeLlme value afLer deducLlng Lhe cosL
ls known as Lhe concepL of cusLomer equlLy. Craphlcally, Lhe relaLlonshlp beLween
cusLomer llfeLlme value, reLenLlon cosLs, acqulslLlon cosLs and cusLomer equlLy can be
seen ln Lhe plcLure below.
!"#$%&'(#%
*"+,-.%&
/,'&
*"+,-.%&
0-+,
*"+,-.%&
1&%%
234%&+
Value to Customer
V
a
l
u
e

o
f

c
u
s
t
o
m
e
r
Customer
Acquisition Cost
Customer Break-
Even Analysis
Lifetime Value
Analysis
Firing
Customer
Firing
Customer
Rewarding
Customer
Cross selling
opportunity
age 10 of 17

lf Lhe cusLomer equlLy value can be calculaLed for all cusLomers, Lhe above descrlpLlon
can be used Lo measure how markeLlng spendlng reasonable value. 8ased on Lhe
equaLlon shown by Lhe plcLure above, Lhe cusLomer llfeLlme value ls maLhemaLlcally:

where:
n = number of LransacLlon wlLh cusLomers
M
a
= proflL margln from cusLomer ln year a
C
a
= markeLlng cosL for relevan cusLomer LerkalL ln year a
r = reLenLlon raLe, where r
(a-1)
equal Lo survlval raLe
l = lnLeresL raLe
AC = acqulslLlon cosL
70I0 -9>EGFB 3:A:C<;<AB
llnanclal aspecLs relaLed Lo producL managemenL ls Lhe prlclng of Lhe producL lLself.
CusLomers wlll buy Lhe company's producLs lf Lhe value of Lhe producL ls greaLer Lhan
Lhe prlce offered. Powever, wlLh Lhe presence of a compeLlng producL, Lhe value
Present
Value of
Customer
s Lifetime
Value
Cost to
serve
Customer
Retention
Cost
Acquisition
Cost
Customer
Equity
!"#$%&'( *+,'-&'
./0"'
1
2'$'3-%3 !%#$
1
456"+#+-%3 !%#$
7
!"#$%&'( 86"+$9
!"#
!
!
!
!
!!
!
!
!!!!!
!! !!!
!
!
!!!
!!"
age 11 of 17
percelved by Lhe cusLomer wlll be compared wlLh Lhe value of Lhe producL offerlng from
compeLlLors. Craphlcally shown ln Lhe plcLure below.


Pere we can see LhaL Lhe dlfference beLween Lhe percepLlon of Lhe value of Lhe
company's producLs wlLh a compeLlLor dlfferenLlaLlon value. luncLlon, poslLlonlng,
dlfferenLlaLlon and brandlng bullL value of Lhe company's producLs. All of Lhese acLlvlLles
wlll add economlc value Lo Lhe cusLomer so LhaL Lhe company can deslgn producL and
promoLlon programs LhaL proflLable and have Lhe selllng power. An example ls when
AC8A 1v cable 1v ln lndonesla was abouL Lo launch a producL. 1hey conducLed a survey
ln order Lo flnd ouL how much Lhe cusLomer ls wllllng Lo pay for Lhe cable 1v. MarkeL
survey sLaLed LhaL consumer percepLlons of cable Lv ls an expenslve lLem, so LhaL Lhey
came ouL wlLh Lhe 1v Lagllne as AC8A SaLelllLe 1v, noL cable 1v. 1he communlcaLlon
bullL ls free local broadcasL wlLh saLelllLe Lv quallLy, LargeLlng consumers LhaL are
dlfflculL Lo caLch local broadcasL wlLh regular uPl anLenna, especlally ln rural areas. 1hls
ls Lhen followed by Lhe offerlng of a program wlLh Lhe cosL of producLlon LhaL ls sulLable
for each segmenL.
Company's communlcaLlons acLlvlLles on Lhelr producLs wlll also affecL Lhe percepLlon
of Lhe value of Lhe company's producLs. Lxamples of such communlcaLlon can be seen ln
Lhe Lable below.
Value of our
product
Price of our
product
Value of alternative
product
Price of alternative
product
Value of our
product
Price of our
product
Value of alternative
product
Price of alternative
product
!"##$%$&'"('")& +(,-$ %$#$%$&.$ +(,-$ )-% /%".$
01221343566 78 /9: ;0'/< = $>838?1> +92@5 78 .@678?5A ;$+.<
age 12 of 17

70J0 #9:AE 3:A:C<;<AB
8rand as has been descrlbed above wlLh Lhe example of SLarbucks, ls an asseL LhaL can
be measured. 1he maln Lask of Lhe brand ls creaLlng and securlng demand.
8elaLlonshlps of brand value from markeLlng and flnance vlewpolnL can be seen ln Lhe
followlng lllusLraLlon.

lrom Lhe lllusLraLlon above, lL can be seen LhaL ln order Lo assess Lhe brand, we
calculaLe Lhe value from several perlods. 1o perform Lhe calculaLlon of brand value
obLalned wlLh 3 sLeps accordlng Lo Lhe followlng lllusLraLlon:
!"#$#%& $()*+,-" !-"$-!*#+% .$*#+%
!"#$%& ()"#% * +(, -..,.../012

3%& +(, 4..,... 0"5#678&
96) :;0125 (1#$1<%
!"#$%& ()"#% * +(, 4,=..,...
96) : 0125
!>%)% "5 1 (%)#%(?68 &>1&
&>% ()"#% "5 +(,=..,.../012

/# 01234526 "78 9::8::: 4; <=
>=? 1@6>< ?A6 2=>263?B
!>%)% "5 1 (%)#%(?68 &>1&
&>% ()"#% "5 +(,4,=..,...

/*A6 73426 C4DD 0EDD F6 "78
G89::8::: 6H6> 4; # 2=I6 ;=3
=>DJ G <1JB
@A%80 &>% #68#%)&
36 &6 267)
B)"%80C5 (1)&2
!"#$ & !"#$ ' !"#$ ( !"#$ ) !"#$ *
!"#$%$&'
)#"$*' +#,"-, *,."$* /0#%+,1 2345.,1 6#,75,$+89
)#"$*' ',+5#, *,."$* /438"4-81 #,:05#+;"',1 #,-,$<3$9
=,- >#,',$- ?"45, 6#3. ,@0,+-,* 65-5#, ,"#$%$&
&,$,#"-,* A8 -;, A#"$*
!"#$%&'(
*+'"',%
age 13 of 17



Pere explalned Lhe calculaLlon sLep:
1. SegmenLaLlon
SegmenLaLlon as prevlously descrlbed, enable us Lo see how Lhe brandlng process
ln each segmenL ls done and how Lhe revenue generaLed from each segmenL.
2. lnLanglble Larnlng CalculaLlon
lnLanglble Larnlngs CalculaLlon calculaLed from Lhe lncome sLaLemenL LhaL are
pro[ecLed for Lhe fuLure, usually for 3-3 years. 1he calculaLlon lLself ls as follows:
Segmentation
Financial
Analysis
Intangible
Earnings
RBI Analysis
Brand
Earnings
BSS Analysis
Discounted
Brand Earnings
NPV
Calculation
BRAND
VALUE
1
2
3
4
5
age 14 of 17

3. 88l (8ole of 8randlng lndex) CalculaLlon
88l ls an lndex Lo see how blg Lhe effecL of brandlng on cusLomer demand. lL ls
known Lhrough Lhe survey. 1hls lnfluence wlll be assumed responslble for Lhe
lnLanglble earnlngs obLalned by Lhe company ln order Lo obLaln brand earnlng
value (8rand Larnlng = 88l x lnLanglble Larnlngs).

4. 8SS (8rand SLrengLh Score) CalculaLlon
8SS ls a calculaLlon LhaL measures Lhe sLrengLh of Lhe supporL of a brand Lo see
how qulckly Lhe value of a brand ls reduced by a facLor of Llme and Lhe buslness
envlronmenL around lL. 1hls value ls derlved from Lhe consensus of several parLles
who revlew Lhese facLors. 1he ouLpuL of Lhls process ls Lhe dlscounL raLe LhaL wlll
!"#$%&% (&)&$*&+ : revenue yg
dlperoleh darl merk x
,!-./0 = Larnlng 8efore lnLeresL 1ax
uepreclauon & Amoruzauon
1230. = neL Cperaung roL Aer 1ax
4#567#8 ,958:;&% = Long 1erm uebL +
LqulLy
<:"=6$> 4#567#8 = CurrenL AsseL -
CurrenL uebL
4#567#8 4?#">& = CaplLal Lmployed x
WACC
<044 = WelghLed Average CosL of
CaplLal
! #! $! %! &! '!!
()*+,
-,.,/)01, 234)5,6
7)18)5305
9/)3.):3.3+;
7<31, =<>4>?>0
@A,.B =<,*,01,
!"# %&'() * +,(,&'-,. ),/'()0
C<)0D E+A,< F0+)053:.,*
->., >B C<)0D305 G HIJ
C<)0D 3* <,*=>0*3:., B>< HIJ >B K 30+)053:., ,)<0305
age 13 of 17
be used Lo calculaLe Lhe presenL value of Lhe earnlngs Lhe brand. 1he lllusLraLlons
can be seen ln Lhe plcLure below.

5. 8rand value CalculaLlon.
1hls ls Lhe lasL sLep of Lhe process of calculaLlng brand value. 8rand Larnlng
obLalned from sLep 3 ln calculaLlng lLs presenL value uslng a dlscounL raLe derlved
from Lhe 8SS conducLed ln sLep 4. 1he flnal resulL obLalned ls Lhe value of dollars
of brand value.



age 16 of 17
),"-!%. ///0 )'*)$2+/'* "*1 .%3".4+

lrom Lhe above explanaLlon can be obLalned Lhe followlng concluslons:
a. MarkeLlng acLlvlLles should be seen as an ongolng and conLlnuous acLlvlLy, so LhaL Lhe cosLs
assoclaLed wlLh Lhese acLlvlLles can be seen, planned, measured and evaluaLed more preclsely.
b. AppllcaLlon of flnanclal concepLs ln Lhe area of markeLlng can help managers Lo see and
measure markeLlng acLlvlLles ln an ob[ecLlve and accounLable way.
c. MarkeLlng acLlvlLy plan would be easler and beLLer explaln Lo non-markeLer Lo lnvoke all parLs
of Lhe company supporLlng Lhe plannlng prepared by Lhe markeLlng Leam.
d. MarkeLlng Leams are requlred Lo work ln a professlonal and accounLable way ln order Lo make
Lhelr acLlvlLles focus, efflclenL, well planned and measurable.











age 17 of 17
#/#$/'5."-,K


1
uavld C. CourL eL all, 2003, 8oosLlng 8eLurn on MarkeLlng lnvesLmenL, Mcklnsey CuarLerly,
www.mcklnseyquarLerly.com/llnks/17174

2
Permawan kerLa[aya, 2012, Marklus MasLer Class on lnLegraLlng MarkeLlng & llnance,
Marlus.

3
hlllp koLler & kevln Lanne keller, MarkeLlng ManagemenL, 13
Lh
LdlLlon, renLlce Pall, 2009

4
SubroLo SengupLa, 8rand oslLlonlng-SLraLegles for CompeLlLlve AdvanLage, 2
nd
LdlLlon,
McCraw Plll, 2003