Marketing Controls

Question 1

What are the different steps in the control process?

Answer 1

1. Marketing strategies
2. Target outcomes and actual outcomes ->
3. Identify deviations ->
4. Diagnose deviations ->
5. Formulate corrective action

Question 2

What are the key marketing performance indicators? (Metrics)

Answer 2

• sales
• profitability
• ROI
• awareness, brand perception, equity (CBBE)
• no. Of new products
• no. Of customer complaints
• customer satisfaction
• distribution availability

Question 3

What is marketing implication?

Answer 3

• the process of executing the marketing strategy by creating and performing specific actions that will ensure the achievement of the firms marketing objectives
• goes hand in hand with evaluation and control in determining the success or failure of the marketing strategy

Question 4

What are the elements included in the marketing implementation?

Answer 4

1. Marketing strategy (planned pricing, product, distribution and promotion activities)
2. Shared goals and values (the glue of implementation, holds entire firms together)
3. Marketing structure (how marketing activities are organized)
4. Systems and processes
5. Resources (tangible and intangible assets that are brought together during marketing implementation)
6. People (quality, skill, diversity of HR)
7. Leadership (communication and motivation with employees)

Question 5

What are the different approaches to implementation of marketing strategy?

Answer 5

1. Implementation by command (decided by firms top executives and then implemented by lower levels)
2. Implementation through change ( implementation by modifying the firm in ways that will ensure successful Implementation of chosen marketing strategy)
3. Implementation through consensus (upper and lower level managers develop it together)
4. Implementation as organizational culture ( marketing strategy are seen as extensions of the firms mission, vision and organizational culture)

Question 6

What is internal marketing?

Answer 6

• use of a marketing like approach to motivate, coordinate and integrate employees toward the implementation of firms marketing strategy
• external customer satisfaction depends on the actions of he firms internal customers, it employees.

Question 7

What is used in evaluating and controlling marketing activities?

Answer 7

• marketing strategy often differs from the realized strategy
• have system if controls in place
• design and use formal input, processes and output controls
• use output controls and perforce standards
• evaluate on different levels: employees (self-control), workgroups (social control), throughout the firm (cultural control), use personal objectives and group based norms.

Question 8

What does securing actives require? And what are the five basic steps?

Answer 8

• require that employees know the specific activities for which they are responsible and the timetable for completing each activity
  1. Identify the specific activities to be performed,
  2. Determine the time required to complete each activity
  3. Determine which activities must proceed others
  4. Arranging the sequence and timing of all activities
  5. Assigning responsibility to employees, managers, teams or departments