Redefining media value

This paper argues that changes in the business environment have resulted in media value being redefined so that it is more about 'outcomes' (sales effectiveness) and less about 'inputs' and 'outputs' (media efficiency).

Redefining Media Value

Arthur AndersonandSteve Fajen Morgan Anderson Consulting

Media spending is still one of the largest annual G&A investments of marketers, but getting a good return is increasingly difficult because of today's chaotic economic environment and a preoccupation with the wrong metrics. The question of 'media value' increasingly gets raised in the boardroom, and media management consultants are asked to give media-value opinions and provide media-value solutions.

The issues confronting marketers today are enormous. Brand performance issues abound, there is uncertainty over the U.S. and global economy, and global politics adds uncertainty. To make matters worse,...

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