Marketors Told of MR Failings

The Chairman of Pearson and HBOS has told London marketing professionals that the MR industry has failed to adequately promote the benefits of the service it offers. Lord Stevenson of Coddenham was speaking at the recent annual City Lecture of the Marketors in London.

The speaker said the industry had a job to do, persuading firms of all sizes to use MR to take the risk out of decision-making. He added that good judgement was needed to use MR results at a strategic level, implying agreement with many within the industry who say research firms should do more to help clients interpret results and convert them into strategy and action.

The address, entitled 'Reflections and prejudices of a marketing man turned company chairman' and delivered at the Gibson Hall, Bishopsgate in the last week of November, touched on a broad range of business topics, including:

• the rise of women in business - Lord Stevenson spoke of a generation of talented women now doing as well as men in senior positions, but complained that a high percentage are lost to meet family demands on their time, and urged businesses to look at ways in which they can entice these brilliant women back to senior positions when they are ready
• the rise of China towards economic superpower status. The world's most populous nation will have 60 million students at university within ten years, and the speaker forecast that the Chinese will overtake the US economy by 2040, under 'outstanding academic and financial leadership'.
• the future role of the Stock Market. Lord Stevenson questioned the need for the Market as a means of raising money, and with private funding now available, stated his belief that the next generation will have to 'decide whether the stock market works'.

The Marketors' Livery Company is one of the modern Livery Companies of the City of London, having been granted full Livery status in 1978. Among its aims are the promotion of marketing as a force for economic and public benefit and the encouragement of excellence in marketing education and practice. It is online at www.marketors.org

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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