marketing control systems
TRANSCRIPT
MARKETING IS NOT ANY CONTROLLED ACTIVITY WHICH CAN BE PERFORMED IN AN INSULATED LAB.
It is very important for a marketer to have a good knowledge of customer’s perception for the firm and for the competitor firms, his satisfaction level, marketing effectiveness, sales, market share, profits, etc.
ROLE OF MARKETING CONTROL- 1/4
Establishing Standards for Marketing Appraisal
ROLE OF MARKETING CONTROL- 2/4
Effective Performance Measurement
ROLE OF MARKETING CONTROL- 3/4
Determining the Strengths and Weaknesses of Marketing Programmes
ROLE OF MARKETING CONTROL- 4/4
Setting up Corrective Mechanisms
TYPES OF MARKETING CONTROL
TYPES OF MARKETING CONTROL
CONTROL PROCESS
MARKETING AUDIT It is a comprehensive, periodic, independent and systematic analysis of
— firms objectives
— marketing environment
— strategies and
— activities for determining the various areas of problems
— opportunities and suggesting appropriate course of action for overall increase in sales and productivity.
FEATURES OF MARKETING AUDIT 1/4
1. Comprehensive and Functional
a) Horizontal Audit Tracking a process from one end to other end is the main activity performed under this audit.
b) Vertical Audit
When a detailed analysis of a single aspect of the company’s marketing strategy (such as product planning) is done, it is regarded as vertical auditing.
FEATURES OF MARKETING AUDIT 2/4
II. Systematic : A corrective action plan must be implemented after the diagnosis which should include both short-term and long-term actions by which the overall marketing effectiveness of a firm can be significantly improved.
FEATURES OF MARKETING AUDIT 3/4
III. Independent: Marketing audits are of independent nature as there are mainly six methods by which the marketing audit can be conducted
i) Self-audit,
ii) Audit from across,
iii) Audit from above
FEATURES OF MARKETING AUDIT 3/4
IV. Periodic: When audits are conducted periodically, companies gain a healthy competitive position in the market.
PROCESS OF MARKETING AUDIT
