In every type of control, the same procedure is applied, i. In this method, annul plans are prepared for various activities. Each plan includes setting objectives expected results or standards , allocating resources, defining time limit, and formulating rules, policies and procedures.
Annual plan control relates to sales. Periodically mostly annually the actual results are measured and compared with standards to judge whether annual plans are being or have been achieved.
Depending on the degree of difference between the planned and the actual results, causes are detected and suitable corrective actions are undertaken. Thus, it contains checking ongoing performance against annual plan and taking corrective action. Figure 1 shows five measures of annual plan control. Analysis of different sales contains measuring and evaluating different sales total sales, territory- wise sales, distribution channel-wise, product-wise sales, customer-wise sales, etc.
Targets are set for different types of sales and actual sales of different categories are compared to find out how far company can achieve its sales goals. Here, market share is used as base for measuring, comparing, and correcting results.
It helps to know how well the company is performing relative to its close competitors. This type of control checks marketing expenses. It ensures that the firm is not overspending to achieve its annual sales goals.
Different marketing expenses are watched in relations to sales. Normally, company considers five components to calculate expenses-to-sales ratios and compares them with standard ratios to find out how far expenses are under control, such as:. Marketing managers needs to monitor these expenses in relation to sales. If the expenses fall beyond permissible limits, it should be taken as a serious concern and needed steps are taken to keep them under control.
Financial control consists of evaluating sales and sales-to-expense ratios in relation to overall financial framework. It means net profits, net sales, assets, and expenses are studied to find out rate return on total assets, and rate of return on net worth.
The measures of annual plan control discussed in former part are financial and quantitative in nature. Qualitative measures are more critical because they give early warning about what is going to happen on sales as well as profits. Manager can initiate precautionary actions to minimize adverse impacts of forces on the future outcomes.
Alert company prefers to set up a system to monitor attitudes of customers, dealers, and other participants. Base on their attitudes, preference and satisfaction, management can take early actions.
This tool is preventive in nature as adverse impact on the future results can be prevented by advanced steps. Market- based preference scorecard analysis is used to measure score attitudes of customers and other participants.
Here, a firm tries to measure attitudes of customers by using various methods like, complaints and suggestions, customer panels, customer survey, etc. It provides details about new customers created, existing customers lost, dissatisfied customers, relative product quality, relative service quality, target market awareness, target market preference, and other valuable information.
Stakeholders include suppliers, dealers, employees, stockholders, service providers, etc. Without their cooperation and contribution, a company cannot realize its goals. When one or more of these stakeholders register dissatisfaction, management must take suitable actions.
Methods used to track attitudes of customers can also be used for measuring attitudes of stakeholders. In this method, the base of exercising control over marketing activities is the profitability. Certain profitability and expenses related standards are set and compared with actual profitability results to find out how far company is achieving profits. Profitability control calls for measuring profitability of various products, channels, territories, customer groups, order size, etc.
It provides necessary information to management to determine whether products, channels, or territories should be expanded, reduced, or eliminated. It consists of determining expenses to be incurred for the marketing activities like salaries, rents, advertising, selling and distribution, packing and delivery, billing and collection, etc. Simply, expenses of particular head for example, salary or advertising are associated with different entities like products, channels, territories or customers groups.
A profit and loss statement is prepared for each type of products, channels, territories, etc. Based on relative performance in form of profitability, management can decide on products, channels or territories to be expanded, reduced or eliminated. If profit and loss statement shows that:. In the same way, it can be applied to different territories and segments. This control, particularly, concerns with measuring spending efficiency. While profitability control reveals the relative in relation to different entities like products, territories, channels, etc.
Sometimes, a post of marketing controller is created to work out a detailed programme to measure and improve efficiency of expense-centered marketing activities. Here also, in order to evaluate efficiency level of different marketing activities, the efficiency standards of ideal performance are set and are compared with actual performance.
Efficiency control can improve efficiency of marketing department in two ways — one is, improving ability of various marketing activities to contribute more in reaching the goals, and the second is, reducing expenses or wastage. Figure 2 shows major types of efficiency control. Main types of efficiency control involve controlling sales force efficiency, advertising efficiency, sales promotion efficiency, distribution efficiency, and marketing research efficiency.
A manager has to make a lot of calculations and paperwork. Percentage of orders per specific number of calls, i. A unique computer-based programme or software can also be developed for speedy and accurate measurement of sales forces efficiency on a regular basis.
Simply, actual performance of sales force is compared with these criteria to find out deviation, and, accordingly, necessary actions are taken. This measurement of sales force efficiency can provide satisfactory answers of following questions:. Advertising is the most expensive among all the promotional tools.
It is essential for the firm to assess whether the marketing policies, programs, systems and methods established in the distant past are valid for today and would be valid for the future.
Marketing audit ensures such assessments. It also measures and evaluates the effectiveness of the other marketing control techniques employed by the firm.
In this sense, marketing audit can be described as a control of controls. Several aspects of business are investigated by marketing audit. In order to tackle these aspects, marketing audit raises some basic questions and tries to answer them correctly.
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