Measuring and monitoring the marketing planning proces
There is no planning without control. Marketing control is the process of monitoring the proposed plans as they proceed and adjusting where necessary. If an objective states where you want to be and the plan sets out a road map to your destination, then control tells you if you are on the right route or if you have arrived at your destination.
Control involves measurement, evaluation, and monitoring. Resources are scarce and costly so it is important to control marketing plans. Control involves setting standards. The marketing manager will than compare actual progress against the standards. Corrective action (if any) is then taken. If corrective action is taken, an investigation will also need to be undertaken to establish precisely why the difference occurred.
There are many approaches to control:
- Market share analysis.
- Sales analysis.
- Quality controls.
- Ratio analysis.
- Marketing research.
- Marketing information systems (MkIS).
- Feedback from customers satisfaction surveys.
- Cash flow statements.
- Customer Relationship Management (CRM) systems.
- Sales per thousand customers, per factory, by segment.
- Location of buyers and potential buyers.
- Activities of competitors to aspects of your plan.
- Distributor support.
- Performance of any promotional activities.
- Market reaction/acceptance to pricing polices.
- Service levels.
…and many other methods of monitoring and measurement.