Marketing Implementation is the process that converts plans into assignments, which after successful achievement accomplishes the plan’s stated objectives
Marketing Control Budget Profitability Efficiency (Productivity) Strategic
Budget Control Measurement of results against monthly/quarterly budgets (goals) Reasons for deviations (variances) Remedial steps to be taken to close the gaps between performance and goals Review performance in the next month/quarter and assess results
Benchmarks for Efficiency against last year against budget against targets % growths % variances % market share
Marketing Expense Sales Force Advertising Sales Promotion Market Research Sales Administration Public Relations Direct Marketing
Financial Analysis RONW - Net Profits/Net Worth profit margin *asset turnover*financial leverage Increase margins by increase in sales or reduction in costs or both Increase asset turnover by increasing sales or reducing the assets (inventories, debtors) against a given level of sales
Market based scorecard analysis Customer Analysis Stakeholder Analysis
Efficiency Control Sales force efficiency Advertising efficiency Sales promotion efficiency Distribution efficiency
Sales force Efficiency No. of calls per salesperson per day Average revenue per sales call Average cost per call Average call time per call No. of new customers per period Sales force cost per unit sales
Advertising Efficiency CPT Before and after measure of attitude towards the product No. of enquiries per ad Cost per enquiry
Sales Promotion Efficiency % sales sold on ‘promotion’ Display cost per sales rupee % coupons redeemed No. of enquiries resulting from a demonstration
Distribution Efficiency Time taken to execute orders % order executed service levels
Other Control Measures Marketing Effectiveness Review - customer philosophy, integrated marketing organization, adequate marketing information, strategic orientation and operational efficiency Marketing Audit - comprehensive, systematic, independent and periodic review of a company’s business environment, objectives, strategies and activities with an idea to identify areas of weaknesses and recommend a plan of action to improve on such areas.
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