Lecture 11 - Marketing Implementation and Control

Question 1

What is marketing planning?

Answer 1

• Strategic planning
• Operational planning
• Resource planning
• Assigning responsibilities & inter-functional communication

Question 2

Barriers to Implementation

Answer 2

1. Marketing strategy is implicit, not explicit
2. Marketing strategy is developed in isolation.
3. Not everyone is a good strategic thinker.
4. The marketing strategy is developed by an external consultant
5. The marketing strategy has unanticipated consequences.

Question 3

Metric Variables

Answer 3

• Customer satisfaction
• Customer experience
• Customer loyalty
• Market share
• Financial productivity:
  
  • Sales growth
  • COGS to sales
  • Gross profit margin
  • SG&A to sales
  • Net Profit margin

Question 4

Essential Marketing Metrics

Answer 4

Brand Awareness
￮ Test-drive
￮ Churn
￮ Customer Satisfaction
￮ Take Rate
￮ Profit
￮ Net Present Value (NPV)

▪ Customer Lifetime Value
(CLTV)
▪ Cost per Click
▪ Transaction Conversion Rate
▪ Return on Inve3stment (ROI)
▪ Brand Equity

Question 5

Strategic control

Answer 5

• Annual Plan control looks at the objectives set in the annual
  marketing plan, evaluates these against the actual results achieved,
  and takes corrective or reinforcing action when necessary
• Financial or Expense control considers the financial parameters
  and objectives set by a firm in its annual marketing plan, and the
  corrective or reinforcing actions needed to attain these
• The purpose of strategic control is to ensure that the organisation
  is maximising the opportunities that exist in its business
  environment. Strategic control often takes the form of a marketing
  audit