Written and Submitted by:
The marketing plan and strategies made for Koch Industries product KαN have to be carefully reviewed and periodically monitored to ensure maximum efficiency and act as early warning systems for any deviations. Correction strategies are discussed if any deviations arise. 2. Plan Goals and Major Milestones.
1. The major goal is to increase the market share of the company by implementing the marketing plan appropriately. We aim to acquire a market share of 9% based on Volumes of Sales. 2. The second goal is to achieve the targets allotted for volume monthly. We aim to sell 12,000 tonnes in 6 months.
* July 2012 - 800 tonnes
* August 2012 - 1000 tonnes
* Sept 2012 - 1300 tonnes
* Oct 2012 - 2000 tonnes
* Nov 2012 - 3000 tonnes
* Dec 2012 - 4000 tonnes
3. The third goal is to achieve the revenue associated with the monthly sales volume allocated. 4. Effectively position our brand as a Bargain Brand in the consumers mind. 3. Measurement Devices
* I think the annual plan control strategy is one of the most effective ways of ensuring that the planned sales revenue and other goals are achieved (KOTLER, Philip, 2009).
We will follow the four steps of annual plan control:
1. Set up quarterly goals.
2. Monitoring the performance.
3. Identifying the cause of performance deviation.
4. Deviation correction strategy.
The targets are set on hierarchical level with each hierarchy like product manager, regional manager, local sales are manager and sales representative is assigned a realistic target based on the area dynamics in which they work. These targets are reviewed by the top management and interpretation of the results is done. We will be using four common tools for analysis –...