Uploaded byDr.Aravind TS
MARKETING CONTROL SYSTEMS
The document discusses marketing control systems and marketing audits. It describes that marketing control involves establishing standards, measuring performance, identifying strengths and weaknesses of programs, and setting corrective actions. Marketing audits comprehensively analyze objectives, environment, strategies, activities to identify problems and opportunities and recommend actions. Features of marketing audits include being comprehensive, systematic, independent, and conducted periodically. The process of a marketing audit is also outlined.
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MARKETING CONTROL SYSTEMS
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- 2. MARKETING IS NOTANY CONTROLLED ACTIVITY WHICH CAN BE PERFORMED IN AN INSULATED LAB.
- 3. It is veryimportant for a marketer to have a good knowledge of customer’s perception for the firm and for the competitor firms, his satisfaction level, marketing effectiveness, sales, market share, profits, etc.
- 4. ROLE OF MARKETING CONTROL-1/4 Establishing Standards for Marketing Appraisal
- 5. ROLE OF MARKETING CONTROL-2/4 Effective Performance Measurement
- 6. ROLE OF MARKETING CONTROL-3/4 Determining the Strengths and Weaknesses of Marketing Programmes
- 7. ROLE OF MARKETING CONTROL-4/4 Setting up Corrective Mechanisms
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- 11. MARKETING AUDIT It isa comprehensive, periodic, independent and systematic analysis of — firms objectives — marketing environment — strategies and — activities for determining the various areas of problems — opportunities and suggesting appropriate course of action for overall increase in sales and productivity.
- 12. FEATURES OF MARKETING AUDIT1/4 1. Comprehensive and Functional a) Horizontal Audit Tracking a process from one end to other end is the main activity performed under this audit. b) Vertical Audit When a detailed analysis of a single aspect of the company’s marketing strategy (such as product planning) is done, it is regarded as vertical auditing.
- 13. FEATURES OF MARKETING AUDIT2/4 II. Systematic : A corrective action plan must be implemented after the diagnosis which should include both short-term and long-term actions by which the overall marketing effectiveness of a firm can be significantly improved.
- 14. FEATURES OF MARKETING AUDIT3/4 III. Independent: Marketing audits are of independent nature as there are mainly six methods by which the marketing audit can be conducted i) Self-audit, ii) Audit from across, iii) Audit from above
- 15. FEATURES OF MARKETING AUDIT3/4 IV. Periodic: When audits are conducted periodically, companies gain a healthy competitive position in the market.
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