Effectiveness of marketing efforts on value creation for Icelandic companies : how are Icelandic companies measuring value from marketing campaigns?

Abstract

This thesis explores the effectiveness of marketing campaigns in creating value for Icelandic companies. Through qualitative research involving interviews with key stakeholders from various Icelandic firms, this study investigates how companies measure the value derived from their marketing initiatives. By focusing on various approaches, including push and pull strategies, and integrated marketing communications, the study provides insights into how companies tailor their marketing efforts to enhance customer engagement and brand loyalty. Significant findings from the research indicate that while most companies recognize the importance of marketing, many see it as an expense that is required to run a business rather than an investment that can provide measurable returns and therefore don’t see all its potential. Many companies struggle to quantitatively measure the impact of their marketing efforts, often relying on qualitative assessments and market perception. This thesis discusses the implications of these findings and suggests ways in which companies could enhance their marketing measurement techniques to better align with strategic business outcomes, thereby potentially increasing the power and efficiency of their marketing investments. This would enable Icelandic companies not only to enhance their competitive edge but also to maximize the value creation from their marketing efforts.