EFFECTIVENESS AND EFFICIENCY OF MARKETING: ESSENCE OF CONCEPTS AND APPROACHES TO THE SELECTION OF THE INDICATORS
The purpose of this research paper is to define the author's opinion on the essence of the marketing efficiency and effectiveness, and the types of indicators which are needed for their measuring. It is proved that "effectiveness" and "efficiency" can be used interchangeably in their semantic meaning. However, they should be distinguished as scientific terms according to their economic sense. Understanding this distinction is most important for the selection of indicators that would provide an objective evaluation of marketing activities. The paper presents a critical analysis of existing approaches to the selection of such indicators and the author's conclusions made on its base: for the complex measuring of marketing effectiveness both financial and non-financial indicators are required. Because the last ones are able to point out the reasons for the achievement of financial results.