Please help me give feedback and answer. (3-5 sentences).

According to Bodell and Earle (2004) there are four principles of innovation in regards to marketing measurement. The authors propose that organizations should be measuring the return on their marketing investments but also discuss the difficulty organizations face when trying to measure returns. Bodell and Earl (2004) propose that there are four principals organizations can use to guide them through their own marketing measurement standards. The principles are; information versus insight, accountability versus continuous improvement, calculators versus connection, and process versus innovation. According to Bodell and Earl (2004) organizations need to conduct both qualitative and quantitative (yin and yang) analysis when focusing on measuring marketing ROI.

Kuczmarski (2000) notes the importance of innovation and its link to success within an organization. Kuczmarski (2000) also noted the top 5 barriers to innovation within organizations; lack of any metrics relating to return on innovation, lack of new product development strategy, insufficient people resources, poor communication between levels of management, and a predominance of risk-averse culture. Kuczmarski (2000) states that organizations can improve their return on innovation by tracking data in the following ways; 1) creating an innovation purpose, 2) providing the organization with a process, 3) allocating the proper human resources to execute the innovation processes.

According to Mullins and Komisar (2011) innovation is risky, but if organizations are not innovating they will be surpassed by organizations that are innovating. Mullins and Komisar (2011) propose that organizations need to incorporate dashboards in order to capture data from the market. This captured data allows organizations to make corrections in their current strategy, especially when conducting business in uncharted territories. Dashboards allow organizations to understand the way the market is moving, and to adjust their strategy to align with the ever evolving market place.

As you can see from the above information, each author has different recommendations for measuring innovation. They all do agree that innovation does need to be measured but do differ on their approaches. Which approach would you use? Would you use more than one?