Marketing

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o maximize the return on a marketing plan, there need to be controls in place to monitor the plan's progress. As a marketing plan moves along, the controls are constantly analyzed to determine how the plan's actual performance compares to the projections. Any changes that need to be made are done based on the analysis of marketing controls. Understanding what the controls in a marketing plan are will help you develop effective performance measurement indicators. Sponsored Link

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Marketing is designed to persuade consumers to purchase a product or invest in a service. One control put into place in any marketing plan is the monitoring of customer feedback through polls and surveys. You can reach customers indirectly by hosting online polls on the Internet that ask specific questions about your latest marketing plan. Conversely, surveys can be done with marketing groups or via individual interviews by phone or in person. Adjust your marketing plan according to the results of your research. For example, if your marketing campaign includes a new company mascot and customer feedback indicates that the mascot is not popular, then the mascot should be removed from the marketing plan. Target Market Sales

Sales can be measured in units sold, revenue generated or profit amount. Each marketing plan sets out to determine the effect of the plan on the target market. Once again, this is done through market surveys or at the point of sale with the assistance of retail partners. Actual sales in the target market are compared to the marketing plan projections to see if any changes need to be made. For example, if the target market for a marketing plan is males ages 15 to 21, then the target market sales reports would monitor sales made to that group. If sales are down, then further market research needs to be done to see why the...
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