Nearly 50% of European-based companies have no Marketing Performance Measurement (MPM) system in their organizations. What's more, only 9% say they have a "formal" comprehensive system in place. These are just two of the findings in "Measures and Metrics: The European Marketing Performance Measurement Audit," fielded by the Chief Marketing Officer (CMO) Council. The report, an extension of the 2004 Measures + Metrics North American survey, reveals that European marketers are lagging behind their American counterparts in the implementation of marketing measurement systems. The European version of the survey, fielded from March to June 2005, drew nearly 200 responses from senior technology marketers.