What tools are available to help companies monitor and improve their marketing activities?
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Based on Chapter 21 of Marketing Management : An Indian Perspective by Kotler, Keller.
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What tools are available to help companies monitor and improve their marketing activities?
- 1. What are the tools available to help companies monitor and improve their marketing activities?
- 2. By, Anurag Kar B.Tech. Student Department of E and ECE IIT Kharagpur Based on Chapter 21: Managing a Holistic Marketing Organisation for the Long Run Of Marketing Management: A South Asian Perspective By Kotler, Keller, Koshy and Jha
- 3. Marketing control Is a process by which firms assess the effects of their marketing activities and programs and make adjustments.
- 4. 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 The Control Process
- 6. These are the tools which help companies monitor and improve their marketing activities.
- 8. Prime Responsibility: • Top management • Middle Management
- 9. Purpose of Control: To examine whether the planned results are being achieved.
- 10. Approaches: • Sales analysis • Market share analysis • Sales to expense ratios • Financial analysis • Market based scorecard analysis
- 11. Annual plan control ensures the company achieves its sales, profits and other goals established in its annual plan.
- 12. This control model applies to all levels of the organization.
- 14. Prime Responsibility: • Marketing controller
- 15. Purpose of Control: To examine where the company is making and losing money.
- 16. Approaches: Profitability by: • Product • Territory • Customer • Segment • Trade Channel • Order Size
- 17. 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.
- 19. Prime Responsibility: • Line and staff management • Marketing controller
- 20. Purpose of Control: To evaluate and improve the spending efficiency and impact of marketing expenditures.
- 21. Approaches: Efficiency of: • Sales Force • Advertising • Sales Promotion • Distribution
- 23. Prime Responsibility: • Top management • Marketing Auditor
- 24. Purpose of Control: To examine whether the company is pursuing its best opportunities with respect to markets, products, and channels.
- 25. Approaches: • Marketing effectiveness rating instrument • Marketing audit • Marketing excellence review • Company ethical and social responsibility review
- 26. Strategic Control can be carried out in two ways. The Marketing Audit The Marketing Excellence Review
- 28. 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.
- 29. The Big Four Audit Firms
- 30. Four characteristics of the marketing audit
- 31. Comprehensive The marketing audit covers all the major marketing activities of a business, not just a few trouble spots.
- 32. Systematic The marketing audit is an orderly examination of the organization’s macro- and micromarketing environments.
- 33. Independent Self audits lack objectivity and independence. Hence, outside consultants bring the objectivity and independence.
- 34. Periodic A periodic audit can benefit companies in good health as well as those in trouble.
- 35. Comprehensive Periodic Systematic Independent Four characteristics of the marketing audit
- 37. The market excellence review distinguishes between poor, good and excellent business and marketing practices.
- 38. 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
- 39. 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
- 40. 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
- 41. 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
- 42. 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
- 46. Thank You!
- 47. Credits Pictures Sourced from: www.flickr.com www.pinterest.com http://commons.wikimedia.org www.theguardian.com www.imgur.com Fonts Sourced from: www.fontsquirrel.com Based on “Marketing Management: A South Asian Perspective” By Kohler, Kelter, Koshy and Jha