The Mission of MASB is to “Establish marketing measurement and accountability standards across industry and domain for continuous improvement in financial performance and for the guidance and education of business decision makers and users of performance and financial information.”
Role of MASB
The role of MASB is in setting the standards and processes necessary for evaluating marketing measurement in a manner that insures credibility, validity, transparency and understanding.
MASB will not endorse specific measures, rather it will document, reveal and highlight how various measures stack up against the Marketing Metric Audit Protocol (MMAP). The belief and assumption is that the market will select specific measures based on these evaluations. MASB’s Dynamic Marketing Metrics Catalogue will be the primary vehicle for documentation and publication.
MASB will also exemplify how to evaluate and identify ideal measures according to MMAP for specific marketing activities such as TV and On-Line advertising and/or any other activity or area for which there is need as identified by its membership constituency.
MASB will delve into the practices underlying the development and management of ideal measures as well as those practices utilized to create knowledge, determine causality, and apply to process management for improved return.
Overall, MASB will serve at the industry level in this fashion and with “open due process” in its work.
The Marketing Metric Audit Protocol (MMAP) is a formal process for connecting marketing activities to financial performance.
An example of how to evaluate marketing metrics according to MMAP, the learning from using an “ideal” metric over time, and how to improve return by applying to better marketing practice.
The characteristics, practices and processes underlying the development and management of an “ideal metric.”
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