Marketing Control
Marketing control is the procedure of measuring and evaluating results of marketing strategies and plans, and taking right action to ensure that marketing objectives are attained.
Marketing Control Process
Implementation needs four steps:
- Set particular goals (What do we desire to achieve?).
- Measure performance (What is happening?).
- Evaluate performance (Why is it happening?).
- Take right action (What should we do regarding it?).
Two broad forms of control are significant:
1). Operating control involves verifying ongoing performance against annual plan and taking right action when necessary.
2). Strategic control involves looking at whether the company's fundamental strategies are well matched to its opportunities.
The main tool for accomplishing this form of control is marketing audit. Marketing audit is a, systematic, independent, comprehensive and periodic examination of a company's environment, strategies, objectives and activities to find out problem areas and opportunities. Purpose is to recommend a plan of action to improve the company's marketing performance.
1). The marketing plan covers all main marketing areas of a business, and not only trouble spots.
2). If done accurately, the audit is usually conducted by an objective and experienced outside party who is free of the marketing department.