Marketing Evaluation & Control
MARKETING EVALUATION & CONTROL
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Introduction
·
Marketing E&C have the performance
standards against which the company measures its
o
Marketing Plan
o
Company Performance
·
It also gives information on what action
should be taken if the objectives & marketing goals are not met
·
It involves the analysis of marketing plan by
o
Planning
§ Develop strategic plans
§ Develop marketing plans
o
Implementation
§ Carry out the plans
o
Control
§ Measure results
§ Evaluate results
§ Take corrective action
Steps
in the Control Process
· Goal setting
· Performance measurement
· Performance diagnosis
· Corrective action
Methods
of Marketing Control
·
Annual Plan Control
o
Analysis of sales
o
Analysis of market share
o
Analysis of market expenses to sales
o
Financial Analysis
o
Analysis of customer & shareholder
attitude
·
Profitability Control
o
Companies should measure the profitability of
their
§ Products
§ Customer groups
§ Segments
§ Trade Channels
§ Order size
o
It helps to determine whether to
§ Expand
§ Reduce
§ Eliminate any products or marketing activities
·
Efficiency Control
o
Sales force efficiency control
o
Advertising efficiency control
o
Sales promotion efficiency control
o
Distribution efficiency control
o
Marketing research efficiency control
·
Strategic Control
o
The marketing effectiveness review
o
The marketing audit
o
The marketing excellence review
o
The ethical & social responsibility review
Marketing
Control Techniques
·
Competitor Analysis
·
Customer Analysis
·
Testing Research
·
Customer feedback
·
Cost analysis
Evaluation
& its Ways
·
Evaluation is a
process in which various techniques are used to
o
Analyze the success of marketing objectives
o
To more broadly assess the entire
organization’s marketing efforts
·
Ways to evaluate marketing efforts
o
Return on Investment (ROI)
§ Sales number
§ Customer response
§ Expansion
o
Partner Response
o
Sales People
o
Competitor Response
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