What tools are available to help companies monitor and improve their marketing activities?
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Transcript of What tools are available to help companies monitor and improve their marketing activities?
What are the tools avai lable to
help companies monitor and
improve their market ing
act iv i t ies?
By,Anurag KarB.Tech. StudentDepartment of E and ECEIIT Kharagpur
Based on Chapter 21: Managing a Holistic Marketing Organisation for the Long Run
OfMarketing Management: A South Asian
PerspectiveBy Kotler, Keller, Koshy and Jha
Marketing control
Is a process by which firms assess the effects of their marketing
activities and programs and make adjustments.
What do we want to achieve?
What is happening?
Why is it happening?
What should we do about it?
Goal setting
Performance Measurement
Performance Diagnosis
Corrective Action
TheControlProcess
Four types of Marketing Control
Annual-PlanControl
Profitability Control
Efficiency Control
Strategic Control
Approaches:
• Sales analysis• Market share analysis• Sales to expense ratios• Financial analysis• Market based scorecard analysis
Annual plan control ensures the company achieves its
sales, profits and other goals established in its annual
plan.
Companies should measure the profitability of their products, territories,
customer groups. Segments, trade channels, and order sizes to help
determine whether to expand, reduce or eliminate any products.
Purpose of Control:
To evaluate and improve the spending efficiency and
impact of marketing expenditures.
Purpose of Control:
To examine whether the company is pursuing its best opportunities
with respect to markets, products, and channels.
Approaches:
• Marketing effectiveness rating instrument• Marketing audit• Marketing excellence review• Company ethical and social responsibility review
Strategic Control can be carried out in two ways.
The Marketing Audit
The Marketing Excellence Review
A marketing audit is an examination of a company’s business unit’s marketing environment, objectives, and activities, to determine problems and recommend a plan to improve the company’s performance.
Comprehensive
The marketing audit covers all the major marketing
activities of a business, not just a few trouble spots.
Systematic
The marketing audit is an orderly examination of the organization’s macro- and
micromarketing environments.
Independent
Self audits lack objectivity and independence. Hence, outside consultants bring
the objectivity and independence.
The market excellence review distinguishes
between poor, good and excellent business and
marketing practices.
Poor Good Excellent
• Product driven• Mass-market oriented• Product offer• Average product quality
• Market driven• Segment-oriented• Augmented product offer• Better than average
• Market driving• Customer oriented• Customer solutions offer• Legendary
Poor Good Excellent
• Product driven• Mass-market oriented• Product offer• Average product quality• Average Service Quality• End product oriented• Function oriented• Reacting to competitors
• Market driven• Segment-oriented• Augmented product offer• Better than average• Better than average• Core-product oriented• Process oriented• Benchmarking competitors
• Market driving• Customer oriented• Customer solutions offer• Legendary• Legendary• Core-competency oriented• Outcome oriented• Leapfrogging competitors
Poor Good Excellent
• Product driven• Mass-market oriented• Product offer• Average product quality• Average Service Quality• End product oriented• Function oriented• Reacting to competitors• Supplier exploitation• Dealer exploitation• Price driven• Average speed
• Market driven• Segment-oriented• Augmented product offer• Better than average• Better than average• Core-product oriented• Process oriented• Benchmarking competitors• Supplier preference• Dealer support• Quality driven• Better than average
• Market driving• Customer oriented• Customer solutions offer• Legendary• Legendary• Core-competency oriented• Outcome oriented• Leapfrogging competitors• Supplier partnership• Dealer partnership• Value driven• Legendary
Poor Good Excellent
• Product driven• Mass-market oriented• Product offer• Average product quality• Average Service Quality• End product oriented• Function oriented• Reacting to competitors• Supplier exploitation• Dealer exploitation• Price driven• Average speed• Hierarchy• Vertically integrated• Stockholder driven
• Market driven• Segment-oriented• Augmented product offer• Better than average• Better than average• Core-product oriented• Process oriented• Benchmarking competitors• Supplier preference• Dealer support• Quality driven• Better than average• Network• Flattened organization• Stakeholder driven
• Market driving• Customer oriented• Customer solutions offer• Legendary• Legendary• Core-competency oriented• Outcome oriented• Leapfrogging competitors• Supplier partnership• Dealer partnership• Value driven• Legendary• Teamwork• Strategic alliances• Societally driven
Poor Good Excellent
• Product driven• Mass-market oriented• Product offer• Average product quality• Average Service Quality• End product oriented• Function oriented• Reacting to competitors• Supplier exploitation• Dealer exploitation• Price driven• Average speed• Hierarchy• Vertically integrated• Stockholder driven
• Market driven• Segment-oriented• Augmented product offer• Better than average• Better than average• Core-product oriented• Process oriented• Benchmarking competitors• Supplier preference• Dealer support• Quality driven• Better than average• Network• Flattened organization• Stakeholder driven
• Market driving• Customer oriented• Customer solutions offer• Legendary• Legendary• Core-competency oriented• Outcome oriented• Leapfrogging competitors• Supplier partnership• Dealer partnership• Value driven• Legendary• Teamwork• Strategic alliances• Societally driven
CreditsPictures Sourced from:
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Based on “Marketing Management: A South Asian Perspective”By Kohler, Kelter, Koshy and Jha