Techniques of Marketing Control 1.Annual Plan Control 2.Profitability Control 3.Efficiency Control 4.Strategic Control 5.Marketing Audit
Question
Techniques of Marketing Control 1.Annual Plan Control 2.Profitability Control 3.Efficiency Control 4.Strategic Control 5.Marketing Audit
Solution
Sure, here are the explanations for each of the techniques of marketing control:
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Annual Plan Control: This technique involves the evaluation of the organization's annual plan to ensure that the marketing goals are being met. It includes monthly or quarterly sales analysis, market share analysis, marketing expense-to-sales analysis, and financial analysis.
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Profitability Control: This technique is used to understand the profitability of different marketing activities. It involves assessing the profitability of different products, territories, customer groups, trade channels, and order sizes to ensure that resources are being allocated in the most profitable way.
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Efficiency Control: This technique involves evaluating and improving the efficiency of marketing activities. It includes assessing the efficiency of sales force, advertising, sales promotion, and distribution.
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Strategic Control: This technique involves a comprehensive, periodic evaluation of the organization's marketing strategy to ensure that it is still relevant and effective. It includes marketing effectiveness rating review, marketing ROI review, and strategic marketing performance review.
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Marketing Audit: This is a comprehensive, systematic, independent, and periodic examination of a company's marketing environment, objectives, strategies, and activities to identify problem areas and opportunities and recommend a plan of action to improve the company's marketing performance.
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