MARKETING CONTROL
There are four types of marketing
control, each of which has a different purpose: annual-plan control, profitability
control, efficiency control, and strategic control.
1. Annual-plan control: The basis of
annual-plan control is managerial objectives—that is to say, specific goals,
such as sales and profitability that are established on a
monthly or quarterly basis. Organizations use five tools to monitor plan
performance. The first is sales analysis, in which sales goals are
compared with actual sales and discrepancies are explained or accounted for
2. market-share analysis: A second
tool is market-share analysis, which compares a
company’s sales with those of its competitors. Companies
SOME IMPORTANT OTHER TOOLS ARE
1. Profitability control, with regards to different markets,
products, distribution channels or customer groups;
2. Efficiency control, in terms of advertising or
promotional campaigns;
3. Strategic control, in the shape of marketing audits,
marketing excellence or marketing ethics and social responsibility assessments.
Business firms use several tools and
techniques for marketing control. The important ones among them are listed
above.
1. Marketing audit
2. Market share analysis
3. Marketing cost analysis
4. Credit control
5. Budgetary control
6. Ratio analysis
7. Contribution margin analysis
8. Marketing Information inputs and
warning signals
9. MBO (management by objectives)
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