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Evaluation And Control Of Marketing Activities Pdf

evaluation and control of marketing activities pdf

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Here, the actual result is compared with the standard set, to find out the deviation and make rectifications accordingly. Marketing is one of the crucial functions of any organization. Therefore, the management must exercise proper control over the marketing operations to ensure error-free results, optimum utilization of the resources and achievement of the planned objectives.

Marketing plan

A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan so that goals may be achieved.

While a marketing plan contains a list of actions, without a sound strategic foundation, it is of little use to a business. A marketing plan is a comprehensive document or blueprint that outlines the advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals.

A marketing plan has a formal structure, but can be used as a formal or informal document which makes it very flexible. It contains some historical data, future predictions, and methods or strategies to achieve the marketing objectives.

Marketing plans start with the identification of customer needs through a market research and how the business can satisfy these needs while generating an acceptable return.

A marketing plan can also be described as a technique that helps a business to decide on the best use of its resources to achieve corporate objectives. It can also contain a full analysis of the strengths and weaknesses of a company, its organization and its products. The marketing plan shows the step or actions that will be utilized in order to achieve the plan goals.

For example, a marketing plan may include a strategy to increase the business's market share by fifteen percent. The marketing plan would then outline the objectives that need to be achieved in order to reach the fifteen percent increase in the business market share.

Marketing planning can also be used to prepare a detailed case for introducing a new product, revamping current marketing strategies for an existing product or put together a company marketing plan to be included in the company corporate or business plan.

A marketing plan should be based on where a company needs to be at some point in the future. These are some of the most important things that companies need when developing a marketing plan:. One of the main purposes of developing a marketing plan is to set the company on a specific path in marketing. The marketing goals normally aligns itself to the broader company objectives.

For example, a new company looking to grow their business will generally have a marketing plan that emphasizes strategies to increase their customer base.

The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. The marketing plan shows what the company is intended to accomplish within the budget and also to make it possible for company executives to assess potential return on the investment of marketing dollars. Different aspects of the marketing plan relate to accountability. After the strategies are laid out and the tasks are developed, each task is assigned to a person or a team for implementation.

The assigned roles allows companies to keep track of their milestones and communicate with the teams during the implementation process. Having a marketing plan helps company leaders to develop and keep an eye on the expectations for their functional areas. For example, if a company's marketing plan goal is to increase sales growth then the company leaders may have to increase their sales staff in stores to help generate more sales.

The marketing plan offers a unique opportunity for a productive discussion between employees and leaders of an organization. It provides good communication within the company. The marketing plan also allows the marketing team to examine their past decisions and understand their results in order to better prepare for the future. It also lets the marketing team to observe and study the environment that they are operating in.

Though it's not clear, behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lie the "corporate mission," in turn provides the context for these corporate objectives. In a sales-oriented organization, the marketing planning function designs incentive pay plans to not only motivate and reward frontline staff fairly but also to align marketing activities with corporate mission. The marketing plan basically aims to make the business provide the solution with the awareness with the expected customers.

This "corporate mission" can be thought of as a definition of what the organization is, or what it does: "Our business is This definition should not be too narrow, or it will constrict the development of the organization; a too rigorous concentration on the view that "We are in the business of making meat-scales," as IBM was during the early s, might have limited its subsequent development into other areas.

On the other hand, it should not be too wide or it will become meaningless; "We want to make a profit" is not too helpful in developing specific plans. Jacob Zimmerem suggested that the definition should cover three dimensions: "customer groups" to be served, "customer needs" to be served, and "technologies" to be used.

Perhaps the most important factor in successful marketing is the "corporate vision. The idea precedes the deed. This will be not least because its strategies will be consistent and will be supported by its staff at all levels. In this context, all of IBM's marketing activities were underpinned by its philosophy of "customer service," a vision originally promoted by the charismatic Watson dynasty.

The emphasis at this stage is on obtaining a complete and accurate picture. It is apparent that a marketing audit can be a complex process, but the aim is simple: "it is only to identify those existing external and internal factors which will have a significant impact on the future plans of the company. Even so, the first task of this annual process should be to check that the material held in the current facts book or facts files actually is comprehensive and accurate, and can form a sound basis for the marketing audit itself.

This splits the material into three groups:. It is only at this stage of deciding the marketing objectives that the active part of the marketing planning process begins.

This next stage in marketing planning is indeed the key to the whole marketing process. The "marketing objectives" state just where the company intends to be at some specific time in the future. James Quinn succinctly defined objectives in general as: Goals or objectives state what is to be achieved and when results are to be accomplished, but they do not state "how" the results are to be achieved.

They are essentially about the match between those "products" and "markets. They are part of the marketing strategy needed to achieve marketing objectives.

To be most effective, objectives should be capable of measurement and therefore "quantifiable. An example of such a measurable marketing objective might be "to enter the market with product Y and capture 10 percent of the market by value within one year. The marketing objectives must usually be based, above all, on the organization's financial objectives; converting these financial measurements into the related marketing measurements.

He went on to explain his view of the role of "policies," with which strategy is most often confused: "Policies are rules or guidelines that express the 'limits' within which action should occur. Examples are:. In principle, these strategies describe how the objectives will be achieved.

The 7 Ps are a useful framework for deciding how a company's resources will be manipulated strategically to achieve its objectives. However, the 7 Ps are not the only framework, and may divert attention from other real issues. The focus of a business's strategies must be the objectives of the business— not the process of planning itself. If the 7 Ps fit the business's strategies, then the 7 Ps may be an acceptable framework for that business.

The strategy statement can take the form of a purely verbal description of the strategic options which have been chosen. Alternatively, and perhaps more positively, it might include a structured list of the major options chosen. One aspect of strategy which is often overlooked is that of "timing. Taking the right action at the wrong time can sometimes be almost as bad as taking the wrong action at the right time.

Timing is, therefore, an essential part of any plan; and should normally appear as a schedule of planned activities. Having completed this crucial stage of the planning process, to re-check the feasibility of objectives and strategies in terms of the market share, sales, costs, profits and so on which these demand in practice. As in the rest of the marketing discipline, employ judgment, experience, market research or anything else which helps for conclusions to be seen from all possible angles.

At this stage, overall marketing strategies will need to be developed into detailed plans and program. Although these detailed plans may cover each of the 7 Ps marketing mix , the focus will vary, depending upon the organization's specific strategies. A product-oriented company will focus its plans for the 7 Ps around each of its products. A market or geographically oriented company will concentrate on each market or geographical area. Each will base its plans upon the detailed needs of its customers, and on the strategies chosen to satisfy these needs.

Brochures and Websites are used effectively. Again, the most important element is, the detailed plans, which spell out exactly what programs and individual activities will carry at the period of the plan usually over the next year.

Without these activities the plan cannot be monitored. These plans must therefore be:. A Marketing Plan for a small business typically includes Small Business Administration Description of competitors, including the level of demand for the product or service and the strengths and weaknesses of competitors. The main contents of a marketing plan are: [9]. In detail, a complete marketing plan typically includes: [9]. The final stage of any marketing planning process is to establish targets or standards so that progress can be monitored.

Accordingly, it is important to put both quantities and timescales into the marketing objectives for example, to capture 20 percent by value of the market within two years and into the corresponding strategies. Marketers must be ready to update and adapt marketing plans at any time.

The marketing plan should define how progress towards objectives will be measured. Managers typically use budgets, schedules and marketing metrics for monitoring and evaluating results.

With budget, they can compare planned expenditures with actual expenditures for given period. Schedules allow management to see when tasks were supposed to be completed and when they actually were. Marketing metrics tracks actual outcomes of marketing programs to see whether the company is moving forward towards its objectives P. Kotler, K. Other than the above-included contents of a marketing plan, it is also vital to include a specific action plan because planning is not primarily about the plan itself rather its more about the results.

The main purpose of a marketing plan is to assess or measure the produced results, as such building, a specific action plan enhances the ability to measure the specific, concrete plans and ensuring there is a follow up of the eventual results. It is essential to realize that depending on the different types of marketing plans, a specific action plan is vital for it ensures that all the criteria are met from a comprehensive perspective.

Case in point, if a firm is launching a new product, it is often vital to craft a marketing plan that will showcase the strategies that will be used in a bid to introduce the platform to the industry. Luckily, the integration of a specific action plan ensures that all the strategies integrated into the marketing plan are met effectively. Additionally, a specific action plan ensures that in the long run, the respective firm is able to assess and monitor the success of its approaches with regards to the new brand introduction.

Changes in the environment mean that the forecasts often have to be changed. Along with these, the related plans may well also need to be changed. Continuous monitoring of performance, against predetermined targets, represents a most important aspect of this.

Examples of Controls in a Marketing Plan

On the basis of types of criteria — sales, profits, efficiency, and strategic considerations — used for measuring and comparing results, there are four types or tools of marketing control. In every type of control, the same procedure is applied, i. In this method, annul plans are prepared for various activities. Each plan includes setting objectives expected results or standards , allocating resources, defining time limit, and formulating rules, policies and procedures. Annual plan control relates to sales.

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Rubbermaid Inc. After more than a decade of superior performance, the company experienced problems in Increases in the costs of resin used in plastic products triggered price increases to retailers.

Marketing Evaluating and Controlling

To maximize the return on a marketing plan, there need to be controls in place to monitor the plan's progress. As a marketing plan moves along, the controls are constantly analyzed to determine how the plan's actual performance compares to the projections. Any changes that need to be made are done based on the analysis of marketing controls.

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Marketing Control: Top 4 Methods of Marketing Control

4 Comments

  1. Harry P.

    21.12.2020 at 06:03
    Reply

    A marketing plan may be part of an overall business plan.

  2. Danae B.

    24.12.2020 at 03:12
    Reply

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  3. MarГ­n R.

    27.12.2020 at 11:07
    Reply

    Evaluation and control of marketing activities pdf Be aware of the elements of the control process and how these apply to the.

  4. Jolie D.

    29.12.2020 at 08:24
    Reply

    Implementation, evaluation and control are like the three legs of a stool; remove one, and the stool wobbles and crashes to the ground.

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