Purpose: Analyzing value created by marketing should cover at least two important points of view. The first is related to the problem of value created by marketing for customers, and the second is related to the value created for the organization (enterprise). This article is focused on the second point of view. Each organization formulates some expectations toward marketing, and next evaluates the results of using marketing in a more or less systematic way. The purpose of the article is to establish a theoretical model of this valuation using three dimensions: marketing effectiveness, marketing effi ciency and marketing productivity.

Methodology: This study was of a conceptual character. Findings: In presented concept, the expectations toward marketing and value created by marketing are expressed by marketing performance. In turn, marketing performance can be perceived in the three dimensions of
marketing effectiveness, marketing effi ciency and marketing productivity.

Originality: The problem of value created by marketing for the organization (enterprise) isn’t too often analyzed in the literature. Existing literature offers an analysis all these dimensions but in most cases in separate way or with some important inconsequences.