Marketing Control and Its Importance in Business

 
Marketing
 
C
ontrol
 
Marketing
 
Control
 
Marketing control is the process by which firms assess 
the 
effects 
of
their marketing activities and programs and 
make 
necessary changes
and
 
adjustments
Marketing control
 
includes:
Annual plan
 
control
Profitability
 
control
Efficiency
 
control
Strategic
 
control
 
Marketing Control
 
Process
 
Goal 
setting- 
What 
do you want to
 
achieve?
Performance measurement- 
What is
 
happening?
Performance diagnosis – 
Why is it
 
happening?
Corrective action – 
What should we do 
about
 
it?
undefined
 
Types 
of Marketing
 
Control
 
Annual plan
 
control
Profitability
 
control
Efficiency 
control
Strategic
 
control
 
Annual Plan
 
Control
 
Sales
 
analysis
Market share
 
analysis
Expenses to sales
 
analysis
Financial
 
analysis
Market-based score 
card
 analysis
 
Profitability
 
control
 
Profitability control
 
by:
Product
Territory
Customer segment
Trade 
channel
Order
 
size
 
Efficiency
 
Efficiency
 
control
Sales
 
force
Advertising
Sales
 
promotion
Distribution
 
Strategic
 
Control
 
It is exercised by 
top
 
management
It consists
 
of:
Marketing 
effectiveness
 
review
Marketing
 
audit
It is a review
 
of
Firm’s 
marketing
 
objectives
Strategies
Program
 
Marketing 
Effectiveness
 
Review
 
It
 measures
Customer 
orientation
Integrated 
marketing
 
organization
Adequate 
marketing information
 
system
Strategic
 
orientation
Operational
 
efficiency
 
Marketing
 
audit
 
A marketing audit is a comprehensive, systematic, independent, and
periodic 
examination of a 
company’s 
or business 
unit’s 
marketing
environment, objectives, strategies, and activities, with a view 
to
determine 
problem 
areas 
and 
opportunities 
and recommending a plan
of action to improve 
the 
company’s 
marketing
 
performance.
Philip
 
Kotler
 
Characteristics of Marketing
 
audit
 
Comprehensive
Systematic
Independent
Periodic
 
Components of Marketing
 
Audit
 
Marketing environment audit (Macro and task
 
environment)
Marketing strategy
 
audit
Marketing 
organization
 
audit
Marketing system
 
audit
Marketing productivity
 
audit
Marketing function
 
audit
 
Marketing Environment
 
Audit
 
Macro
 
Environment
PEST
Task
 
Environment
Markets
Customers
Competitors
Distribution and
 
dealer
Suppliers
Facilitators
Publics
 
Marketing Strategy
 
Audit
 
Business
 
mission
Marketing objectives and
 
goals
Strategy
 
Marketing 
Organization
 
Audit
 
Formal
 
structure
Functional
 
efficiency
Interface
 
efficiency
 
Marketing System
 
Audit
 
Marketing information system
Marketing planning
 
system
Marketing control
 
system
New-product development
 
system
 
Marketing productivity
 
Audit
 
Profitability
 
analysis
Cost-effectiveness
 
analysis
 
Marketing Function
 
Audit
 
Product
Price
Distribution
Marketing
 
communication
Sales
 
force
 
S
t
r
a
t
e
g
i
c
 
M
a
r
k
e
t
i
n
g
 
E
v
a
l
u
a
t
i
o
n
a
n
d
 
C
o
n
t
r
o
l
 
C
o
n
d
u
c
t
 
s
t
r
a
t
e
g
i
c
m
a
r
k
e
t
i
n
g
 
a
u
d
i
t
 
S
e
l
e
c
t
 
p
e
r
f
o
r
m
a
n
c
e
c
r
i
t
e
r
i
a
,
 
m
e
a
s
u
r
e
s
,
 
a
n
d
 
m
e
t
r
i
c
s
 
O
b
t
a
i
n
 
a
n
d
a
n
a
l
y
z
e
 
i
n
f
o
r
m
a
t
i
o
n
 
A
s
s
e
s
s
 
p
e
r
f
o
r
m
a
n
c
e
a
n
d
 
t
a
k
e
 
n
e
c
e
s
s
a
r
y
a
c
t
i
o
n
Slide Note
Embed
Share

Marketing control is a crucial process for firms to evaluate the impact of their marketing strategies and initiatives, making necessary adjustments for better outcomes. It involves various aspects such as annual plan control, profitability control, efficiency control, and strategic control. The process includes goal setting, performance measurement, performance diagnosis, and corrective actions to achieve desired objectives. Different types of marketing control include annual plan control, profitability control, efficiency control, and strategic control, each focusing on specific areas for assessment and improvement. Marketing effectiveness review and marketing audit help in measuring customer orientation, strategic orientation, and operational efficiency to enhance overall marketing performance.

  • Marketing Control
  • Business Strategy
  • Performance Measurement
  • Marketing Audit
  • Strategic Planning

Uploaded on Aug 04, 2024 | 1 Views


Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. Download presentation by click this link. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

E N D

Presentation Transcript


  1. Marketing Control

  2. Marketing Control Marketing control is the process by which firms assess the effects of their marketing activities and programs and make necessary changes and adjustments Marketing control includes: Annual plan control Profitability control Efficiency control Strategic control

  3. Marketing Control Process Goal setting- What do you want to achieve? Performance measurement- What is happening? Performance diagnosis Why is it happening? Corrective action What should we do about it?

  4. Types of Marketing Control Annual plan control Profitability control Efficiency control Strategic control

  5. Annual Plan Control Sales analysis Market share analysis Expenses to sales analysis Financial analysis Market-based score card analysis

  6. Profitability control Profitability control by: Product Territory Customer segment Trade channel Order size

  7. Efficiency Efficiency control Sales force Advertising Sales promotion Distribution

  8. Strategic Control It is exercised by top management It consists of: Marketing effectiveness review Marketing audit It is a review of Firm s marketing objectives Strategies Program

  9. Marketing Effectiveness Review It measures Customer orientation Integrated marketing organization Adequate marketing information system Strategic orientation Operational efficiency

  10. Marketing audit A marketing audit is a comprehensive, systematic, independent, and periodic examination of a company s or business unit s marketing environment, objectives, strategies, and activities, with a view to determine problem areas and opportunities and recommending a plan of action to improve the company s marketing performance. Philip Kotler

  11. Characteristics of Marketing audit Comprehensive Systematic Independent Periodic

  12. Components of MarketingAudit Marketing environment audit (Macro and task environment) Marketing strategy audit Marketing organization audit Marketing system audit Marketing productivity audit Marketing function audit

  13. Marketing EnvironmentAudit Macro Environment PEST Task Environment Markets Customers Competitors Distribution anddealer Suppliers Facilitators Publics

  14. Marketing StrategyAudit Business mission Marketing objectives and goals Strategy

  15. Marketing OrganizationAudit Formal structure Functional efficiency Interface efficiency

  16. Marketing SystemAudit Marketing information system Marketing planning system Marketing control system New-product development system

  17. Marketing productivityAudit Profitability analysis Cost-effectiveness analysis

  18. Marketing FunctionAudit Product Price Distribution Marketing communication Sales force

  19. Strategic Marketing Evaluation and Control Conductstrategic marketing audit Select performance criteria, measures, andmetrics Obtain and analyze information Assess performance and take necessary action

More Related Content

giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#giItT1WQy@!-/#