The publication of the 2001 UK HEFCE Research Exercise data provides an opportunity to examine the performance not only of Business and Management HE institutions but also the journals submitted by the research active marketing staff from those institutions. Two measures of journal performance are reported and analysed; frequency of submission and journal "quality". The latter was measured in terms of the concept of RAE Implied Journal Quality (RIJQ) using the link from a journal through the submitting author to the RAE rating of their institution. The frequency results indicate a high degree of publication concentration in the Journal of Marketing Management and the European Journal of Marketing. The RIJQ picture is quite different with US journals dominating the rankings. In both cases results are analysed in terms of possible explanatory factors and the role of the RIJQ as a measure of journal quality is critically assessed.