Marketing control, Marketing Management

Assignment Help:

Marketing control:

Because many surprises occur during the implementation of the marketing plan, the marketing department must practice constant marketing control. Marketing control involves evaluating the results of the marketing strategies and plans and taking corrective action to ensure that objectives are attained. Management fist sets specific marketing goals. It then measures it performance in the market place and evaluates the causes of many differences between expected and actual performance. Finally, management takes corrective action to close the gaps between its goals and its performance. This may require changing the action programs or even changing the goals. Operating control involves checking on going performance against the annual plan and taking corrective action when necessary. It purpose is to ensure that the company achieves the sales, profits and other goals set out in its annual plan. It also involves determining the profitability of different products, territories markets and channels. Strategic control involves looking at whether the company's basic strategies are well matched to its opportunities. Marketing strategies and programs can quickly become outdated, and each company should periodically reassess its overall approach to the market plane. A major tool for such strategic control is a marketing audit. The marketing audit is a comprehensive, systematic, and independent and periodic examination of a company's environment. Objectives, strategies, and activities to determine problem area and opportunities. The audit provides goods input for a plan of action to improve the company's marketing performance. The marketing audit covers all major marketing areas of a business, not just a few trouble spots. It assesses the marketing environment, marketing strategy, marketing organization, marketing systems, marketing mix, and the marketing productivity and profitability. The audit is normally constructed by an objective and experienced outside the party. The finding may come as a surprise and sometimes as a shock to management. Management then decides which corrective actions make sense and how when to important them. The marketing environment: managing the marketing function would be hard enough if the marketer has to deal the controllable marketing mix variables. But the company operates in a complex marketing environment, consisting of uncontrollable forces to which the company must adapt. The environment produces both threats and opportunities. The company must carefully analyze its environment so that it can avoid the threats and take advantage of the opportunities. The company's marketing environment includes forces close to the company that affect its ability to serve consumers, such as other company departments, channel members, supplies competitions, such as to the company departments, supplies and public. It also includes broader such economic forces, political and legal forces, technological and ecological forces, and social and cultural forces. The company needs to consider all of these forces when developing and positioning its offer to the market target.


Related Discussions:- Marketing control

Test management, explain the various approach that are followed by SMCG com...

explain the various approach that are followed by SMCG companies in test marketing

Describe the current marketing mix employed by the company, QUESTION 1 ...

QUESTION 1 Describe how HubSpot has applied its own Inbound marketing techniques to promote the company. QUESTION 2 Perform a situational analysis for HubSpot highlight

How is american marketing association refined research, How is American Mar...

How is American Marketing Association refined about the marketing research? Although, the American Marketing Association (AMA) redefined marketing research like a function that li

Briefly explain trend, briefly expain trend describe the impact of the tren...

briefly expain trend describe the impact of the trend on the idustry

Marketing as an exchange, Marketing as an Exchange In contrast to this...

Marketing as an Exchange In contrast to this, relational exchanges (Dwyer et al., 1987) have a longer-term orientation and develop between parties who wish to build long-term

Introduction -mis, INTRODUCTION -MIS The term Management Information S...

INTRODUCTION -MIS The term Management Information System (MIS) is of relatively recent origin and is widely adopted following  the accelerated use of computers in the early 19

Component of modern concept of the marketing, Component of modern concept o...

Component of modern concept of the marketing: 1.      Customer oriented: the very first and the most important base of modern concept of marketing is that it is a customer

Process design can best be improved, Process design can best be improved by...

Process design can best be improved by Adopting a strategy of continuous improvement.

Algebra.., x + 3y + z = 10 2x + y - z = 1 3x - 2y - 8z = -3

x + 3y + z = 10 2x + y - z = 1 3x - 2y - 8z = -3

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd