The measurement of the eff ectiveness of marketing tools is the utmost gap in surveys of mosaic of marketing eff ectiveness. Research in this fi eld proposes a wide range of possibilities to measure the eff ectiveness of marketing tools, nevertheless, measurement of its elements (return and cost of marketing) remains an unexplored fi eld in scientific literature. Hence the authors of this research elaborate on the conceptual essence of marketing tools effectiveness and measurement of its elements. Firstly, diff erent approaches to marketing eff ectiveness are reviewed. Readers are also introduced to dimensions, components, as well as with a chain of causes and outcomes of marketing eff ectiveness. Th erefore, we attempt a critical evaluation of measurement of marketing tools eff ectiveness. Finally, estimation of core problems of measurement of return on marketing and marketing cost are generalized