What is a marketing control?
Marketing control is the process of monitoring the proposed plans as they proceed and adjusting where necessary. Control involves measurement, evaluation, and monitoring. Resources are scarce and costly so it is important to control marketing plans. Control involves setting standards.
What are the characteristics of marketing control?
Characteristics of Effective Marketing Control System
- Suitability. The marketing control system should be appropriately designed to suit the nature and needs of the activities to be controlled.
- Understandable.
- Prompt Reporting.
- Economic.
- Pointing Out Exceptions.
- Objectives.
- Flexibility.
- Corrective Actions.
What are the four types of marketing control?
There are four types of marketing control: the annual plan control, profitability control, efficiency control and strategic control. Table 3.1 shows the level of management which has responsibility for each of the types of control.
What are the two types of marketing control?
Marketing controls are of four types – strategic control, annual plan control, profitability control, and efficiency and effectiveness controls.
What are the steps in marketing control?
The Marketing Control Process:
- Setting performance standards: The starting point in control process is setting the performance standards for marketing operations.
- Appraising the performance:
- Correcting deviations:
- Reformulating the plan:
What is the first step in the marketing control process?
Determining Marketing Objectives: The initial step in marketing control is the setting up of the marketing goals, which are in alignment with the organizational objectives. Establishing Performance Standards: To streamline the marketing process, benchmarking is essential.
What do you mean by control in marketing?
According to Kotler, “Marketing control is the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that marketing objectives are attained.” Marketing control is a crucial part of the marketing job.
Which is the best definition of strategic control?
Strategic control is the task of marketing to ensure that the company’s marketing objectives, strategies and systems are optimally adapted to the current and forecasted marketing environment. In this connection the use of two tools is worth mentioning i.e., marketing effectiveness rating review and marketing audit.
When do you need control over marketing activities?
When one or more of these stakeholders register dissatisfaction, management must take suitable actions. Methods used to track attitudes of customers can also be used for measuring attitudes of stakeholders. In this method, the base of exercising control over marketing activities is the profitability.
How is control and planning interrelated in marketing?
Inherent in the process is the assumption that the desired results are known beforehand. And knowledge of the desired results will advance, involves planning. In this sense, planning and control are closely interrelated. In fact, “Planning -Happening -Evaluating – Controlling” are the four interrelated phases of the marketing job.
