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Abstract

The purpose of this article is to improve the understanding of the marketing-finance interface by developing a model to capture the relationship between marketing efforts and the creation of owners' firm-related wealth in tourism and hospitality industries. In addition, this study combines the balance sheet and income statement—driven measures (i.e., profit margin, Tobin's q) and off-income-statement measures (i.e., customer satisfaction score) to assess the effect of marketing efforts on a firm's financial performance. The findings indicate that marketing efforts indeed affect the owner's firm-related wealth as measured by financial performance variables. Overall, this study provides a valuable benchmark for further research in the area of marketing productivity in the tourism and hospitality industries.

Keywords

marketing efforts financial performance tourism and hospitality industries

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Linking Marketing Efforts To Financial Outcome: an Exploratory Study in Tourism and Hospitality Contexts

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