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.
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 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.
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!
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.
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.
Philip Kotler considers four types of marketing control : Annual Plan control . Profitability control . Efficiency Control . Strategic Control .
The five major marketing control techniques are competitor analysis, customer analysis, testing research, customer feedback and cost analysis.
Action Plan for Implementation Incorporation into Existing Plans and Procedures. Integrate Plan Goals with other Community Objectives. Use the Risk Assessment to Inform Plans and Policies. Implement Mitigation Actions through Existing Mechanisms. Think Mitigation Pre- and Post-Disaster. Implementation of Mitigation Actions. Assign Responsible Agency.
Marketing plan controls compare actual results to your marketing plan to make sure you are on track. Controls used include checking to make sure enough leads are being generated, making sure leads are resulting in sales, and checking specific promotions to ensure they are working.
Strategy Implementation ( marketing mix) Product policy. Pricing policy. Distribution policy. Communications policy.
There are five essential steps you need to build an effective strategic marketing plan: Step 1: Determine your marketing philosophy. Step 2: Determine goals and objectives . Step 3: Set marketing strategies. Step 4: Determining tactics. Step 5: Determine your marketing budget .
A break – even analysis is an analysis that tells you how many products you need to sell to cover your costs. To perform this analysis you need three pieces of data. You need your fixed costs, average cost to make each product and average sales price per product.
Here are some of the common KPIs you should measure for each of your campaigns , regardless of the type, channel or medium: Return on Investment (ROI) Cost per Win (Sale) Cost per Lead. Conversion Rate (or Goal Completion Rate) Incremental Sales. Purchase Funnel. Customer Lifetime Value.