INTRODUCTION The evaluation and control section contains performance standards against which to measure the marketing plan and company performance. This section also provides information on what action should be taken if the marketing goals and objectives are not met.
four steps are involved. First, management sets monthly or quarterly goals. Second, management monitors its performance in the market place. Third, management determines the causes of serious performance deviations.
Marketing control is the process of monitoring the proposed plans as they proceed and adjusting where necessary. Control involves measurement, evaluation, and monitoring. Resources are scarce and costly so it is important to control marketing plans . Control involves setting standards.
The final stage in strategic management is strategy evaluation and control . The fundamental strategy evaluation and control activities are: reviewing internal and external factors that are the bases for current strategies, measuring performance, and taking corrective actions.
How to Implement Your Marketing Plan Set the right expectations. Build the team and secure resources. Communicate the plan . Build out timeline and tasks. Set up a dashboard for tracking success. Monitor and check-in regularly. Be willing to adapt. Communicate results and celebrate success!
Develop and Execute a Marketing Implementation Plan in 6 Easy Steps Step 1: Set Accurate Expectations For How Quickly Things Can Get Done. Step 2: Determine Which Resources Will Be Needed to Execute the Plan . Step 3: Document a Marketing Strategy. Step 4: Build a Workflow For Executing Each Piece of Content.
Marketing Control : Top 10 Tools Marketing Audit: Components of Marketing Audit: Market Share Analysis: Credit Control : Budgetary Control : Ratio Analysis: Marketing Cost Control : Contribution Margin Analysis:
There are four types of marketing control: the annual plan control, profitability control, efficiency control and strategic control. Table 3.1 shows the level of management which has responsibility for each of the types of control.
5 ways to evaluate your Marketing Plan Market Reaction – The actions of your competitors are often a barometer to measure the success or failure of a Marketing Plan . Customer Response – Customer response in all its varied forms can help you to determine what type of reactions your marketing efforts create. Sales Performance – They should be going up!
The implementation and control of marketing plans – is a process which should ensure the achievement of the strategic objectives adopted by the company. A special role in this process plays a function of organizing and directing people.
The five major marketing control techniques are competitor analysis, customer analysis, testing research, customer feedback and cost analysis.
Philip Kotler considers four types of marketing control : Annual Plan control . Profitability control . Efficiency Control . Strategic Control .
The main types of evaluation are process , impact, outcome and summative evaluation.
What does the evaluation process entail? Develop a conceptual model of the project and identify key evaluation points. Create evaluation questions and define measurable outcomes. Develop an appropriate evaluation design. Collect data. Analyze data and present to interested audiences.
A strategy evaluation is an internal analysis tool and should be used as part of a broader strategic analysis for the organization when making decisions about your strategy. Typically, the strategy evaluation process involves answering questions such as: How much progress have we made towards our Vision?