The anzmac constitution sets out the applicable criteria for distinguished memberships:

1. The Academy shall encourage members to aspire to recognition as a Fellow of the Academy.
2. Fellowships shall be conferred on nominated members who, in the opinion of the Executive Committee and the Fellows, have demonstrated outstanding contributions to the Academy and also demonstrated eminence in the Marketing discipline through research, scholarship, education and leadership
3. Any member of the Academy may nominate another member to become a Fellow. Nominations will be considered by a selection committee consisting of equal representation from the Executive Committee and the Fellows and chaired by the Convenor of the Fellows. The Convenor will make recommendations to the President of the Academy and those recommendations that are approved shall be conferred at an annual general meeting of the Academy.
4. The conferring of a Fellowship may be denoted by the personal use of the title, Fellow of ANZMAC, or FANZMAC, on business cards or letterheads.
5. For a Fellowship to be retained the Fellow must be a paid-up member of the Academy. When a Fellow retires from active employment the person may be elected as an Honorary Fellow by the Fellows. Honorary Fellows are not required to maintain paid membership of the Academy.