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News Release from: Editorial Articles: Miscellaneous submissions | Subject: FTSE100 Mktg
Edited by the Processingtalk Editorial
Team on 07 September 2006
UK Businesses ignore marketing
The latest survey from the Chartered Institute of Marketing finds the majority of the UK's top businesses are failing to recognise the benefits of marketing
The latest survey from the Chartered Institute of Marketing finds the majority of the UK's top businesses are failing to recognise the benefits of marketing Only 14% of FTSE 100 companies have a marketing professional on their main board
This article was originally published on Processingtalk on 21 Feb 2005 at 8.00am (UK)
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Marketing plays a key role in the profit making process of an organisation, and is seen by many as an essential business function, but this is not reflected in the organisational structure of most leading companies.
A new survey by the Chartered Institute of Marketing has revealed that just 14% of FTSE 100 businesses have a marketer working at board level, which is only a small increase on last year's figure of 11%.
A disappointing 15% have a marketing professional on their executive or senior management team.
Only 17% of CEOs have a background in marketing, compared with 34% who come from finance, 29% who rise up the ranks from operations, and 19% from general management.
These low figures are a cause for concern - both for the marketing profession, but also for British business generally - according to Ray Jones, Head of Communications at the Chartered Institute of Marketing.
"Of course it is disappointing for marketers that so few are reaching top positions in their organisations but the converse of that means that there is a great deal of opportunity for marketers within 86% of the FTSE top 100! "But the fact that such a small number of top businesses place enough emphasis on marketing to appoint a marketer to the board has wider and even more serious consequences.
It has been demonstrated very clearly, especially by those who do have a marketer on their board, that marketing makes a more significant contribution to the bottom line than any other business function, and therefore companies that do not give it the attention it deserves will fail to meet their full potential.
Marketers must work to demonstrate that they add real value if they are to be taken seriously at board level and to convince their colleagues of their high professional standards".
The fourteen FTSE 100 companies with a marketer at board level are: BP, British Airways, Enterprise Inns, Gallaher Group, Legal and General, Lonmin, Marks and Spencer, Morrisons, Reckitt, Reuters Group, SABMiller, Tate and Lyle, Tesco, and Vodaphone.
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