4. Monitoring and Controlling of Planning

Question 1

check point 1

Answer 1

establish performance targets/ojectives and specify environmental assumptions
e.g. how many sales do we plan to make?

Question 2

checkpoint 2

Answer 2

measure actually performance and monitor environmental change
e.g. changed significantly or expected?

Question 3

checkpoint 3

Answer 3

compare actual vs planned performance and actual vs assumed environmental conditions
e.g. how well are we vs how well we thought we would be

Question 4

checkpoint 4

Answer 4

if variances are acceptable, continue. if not, take corrective action

Question 5

in3 subsets involved in collecting valuable feedback

Answer 5

1. internal accounting/database system
2. marketing intelligence - gathering system
3. marketing research system

Question 6

1. internal accounting/database system

Answer 6

continuous feedback on sales, costs, etc

CRM applications; identification, behavioural and demographic info

Question 7

identification info

Answer 7

helps identify each customer e.g. name, position

Question 8

behavioural info

Answer 8

enables you to see past purchasing behaviours

Question 9

demographic info

Answer 9

helps you predict future purchasing behaviours e.g. age, sex, status

Question 10

2. marketing intelligence - gathering system

Answer 10

on going surveillance on micro and macro environments

e.g. monitoring social media analytics, sales reviews, personal networking

Question 11

3. marketing research system

Answer 11

focuses studies on specific areas required

e.g. focus groups, surveys, mystery shoppers