With the intensive development of communications there appeared a great many diverse definitions of marketing. Whatever the definition marketing is regarded the unique function of business. At present no successful business is possible without effective marketing.

One of the corner-stones of business Philip Kotler defines marketing as human activity directed at satisfying needs and wants through exchange processes. The marketing activities commonly include market research, new product development, product life cycle management, pricing, channel management and promotion.

Two most conspicuous goals of marketing are the acquisition of new customers and the retention of the existing ones. Consequently, the effectiveness of marketing can be quantified and measured in numbers of new customers and new products purchased by the existing ones. Apart from this, there are aspects of marketing effectiveness that cannot be quantified. For instance, the status of a company, its ability to stay at the forefront of the customer’s mind are also considered the benchmarks for testing marketing success.

In today’s fast moving competitive business world measuring marketing performance is crucial to set future business goals, monitor progress, assess effectiveness and align objectives and tactics. To help businesses thrive marketers utilize analytical data to evaluate, recommend, implement and measure marketing initiatives, which can propel the marketing value of the business.

Many marketing system analysts argue that marketing performance is inherently ambiguous because it is difficult to say what is measured. Without well-defined performance metrics it is problematic to answer the question how the marketers calculate the value of a marketing campaign.

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