2. Concept of Market Evaluation
and Control:
Its true to say that planning gives direction to an
organ. Planning enable an organiation to achieve its
objectives, but without control measures planning is
of no mean; its just an empty exercise without
control. Marketing control can be defined as the set
of practices and procedures employed by firm to
monitor and regulate their marketing activities in
achieving their marketing objectives.
In an organization all those marketing
strategies, plans, programs which are ste by the
marketing manager must be evaluated and then
control if the deviation occurs. Marketing control can
also be defined as, "The process of measuring and
evaluating the results of marketing strategies and
plans, and taking corrective actions to ensure that
marketing objectives are achieved."
3. Concept of Market Evaluation
and Control:
Marketing control is the measurement and
correction of marketing performance to achieve
plan targets. The essence of control is
correction. Planning and control are closely
related where control is not possible without
planning. Marketing control is a systematic
process consisting of four major steps in a cyclic
form.
4. Process of Marketing Control /
Components of Marketing Control.
or Evaluation and Feedback System in
Marketing Decision Making
It can be shown as :
5. Performance Standard
Standards are criteria of performance. The
marketing plans are translated into supporting
action plans which specify standard. Standards
can be in terms of cost, quantity, quality and
time. They indicate what should be done. If
minimum expected performance of a marketing
units and are stated in terms of sales, winning
new customers, reduction customers complaint
and soon
6. Actual Performance Measurement
After performance standard components of
marketing contrl; the cactual existing
performance is measured to find out what
actually happened during a specific period of
time. It indicates what actually was done.
Internal reports relating to cost; quality, quantity
and time provide the information about the actual
performance.
7. Comparision and Evaluation
The actual performance is compared with
standard performance to find out if there's
deviations or not. After the comparision, the
acutal performance must be evaluated on the
basis of standard performance set. The
magnitude nature, causes and incidence of
deviation are analyzed. After the analysis,
deviation responsibility must be located. It must
be well defined.
8. Corrective Action
The corrective actions are taken to correct the
deviations. Corrections can results in revision of
standards, reassignment of authority and
responsibilities, better human resource management
and so on. Corrective actions are taken to bring
performance in line with the standards. The actions can
be -
1st Step : Steps taken to improve the performance
better raw materials, gereater employee motivation,
more training and so on.
Step 2 : If external factors prohibits the achievement of
the standard, the performance standard are reduced to
a reasonable level.
9. Objectives of Marketing Control
Surprises do occurs during the implementation of
marketing plans. Therefore marketing control is
needed for -
Monitoring Peroformance.
Locating Deviation Responsibility
Updating Market Information System
Reformulating Objectives and Plans
Environmental Adaptation
10. Effective Evaluation of Marketing
Program Requirement OR
Requirement of Effective
Evaluation of Marketing Program.
11. The requirement of effective evaluation of marketing
program are as follows:
1. Accurate / Information Quality
2. Timely
3. Focused on Strategic Control Points
4. Economically Realistic
5. Coordinated with the organization work flow
6. Flexible
7. Accepted by organzation member
12. Accurate / Information Quality
The information on performance must be accurate.
Evaluating the accurate of the information they receive
is one of the most important control taks that the
manager face. The effective evalueation and control
system must have the accurate and quality information
which supports the manage to take the right decision at
the right time.
Timely
The information must be collected, analyzed and
evaluated quickly if the correct actions is to be taken in
time to produce the improvement.
Focused on Strategic Control Points
The effective evaluation and control system should be
focused on those areas where the deviations from the
standards are most likely to take place or where
deviation would lead to the greatest harm.
13. Economically Realistic
The cost of implementing an effective evaluation and control system
should be less than, or at most equal to, the benifits derived from
the control system.
Coordinated with the organization work flow
After the effective evaluation and control, those information need to
be communicated with the flow of work through the organization for
two reasons -
Each steps inthe work process may affect the success or failure of
the entire operation.
The control information must get to all the people who need to
received it.
Flexible
The control system must have the flexibility built so that the
organization can react quickly to overcome adverse changes or to
take the advantage of new opportunities.
Accepted by organzation member
For an effective control syste; to be accepted by organzation by
members, the control system must be related to meaningful and
