EXPLAIN THE CONCEPT OF MARKETING CONTROL?

DESCRIBE
THE VARIOUS TOOLS AND TECHNIQUES OF MARKETING
CONTROL?

MARKETING

Marketing is a "social and managerial process by which individuals and groups

obtain what they need and want through creating and exchanging products and
values with others." It is an integrated process through which companies create
value for customers and build strong customer relationships in order to capture
value from customers in return.

MARKETING CONTROL PROCESS

Marketing control is the process of monitoring the proposed plans as they

proceed and adjusting where necessary. If an objective states where you want to
be and the plan sets out a road map to your destination, then control tells you if
you are on the right route or if you have arrived at your destination. Control
involves measurement, evaluation, and monitoring. Resources are scarce and
costly so it is important to control marketing plans. Control involves setting
standards. The marketing manager will than compare actual progress against the
standards. Corrective action (if any) is then taken. If corrective action is taken,
an investigation will also need to be undertaken to establish precisely why the
difference occurred.
TYPES OF MARKETING CONTROL

1) ANNUAL PLAN CONTROL

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2)PROFITABILITY CONTROL
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3)EFFICIANCY CONTROL

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4) STRATERGIC CONTROL
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ANNUAL PLAN CONTROL

1)SALES ANALYSIS:-

To provide accurate management information relating to sales activity, sales

forcasting and planning at customer and product class levels

Objective :-

1) To identify most profitable customers

2) Analyze market trends and geographic buying patterns

3) To know the profit generated by each product

4) To know which division of business are selling

5) Improve sales forecasting

2)MARKET SHARE ANALYSIS.

Market share analysis is an important part of market analysis and indicates how
well a firm is doing in the marketplace compared to its competitors.

Givon, Mahajan, and Muller have researched spreadsheet and word processing
software firms to give a clearer image of how to determine market share in the
software industry. They propose six factors to help estimate the value of market
share.

1. unit or dollar sales

2. user base (since piracy and brand switching effect)
3. market definition(scope of definitions)
4. scope of denominator(which other brands included)
5. time frame length
6. product definition (brand, product line, or strategic business unit)

3)SALES TO EXPENSE RATIO

The sales to expense ratio signifies the difference between the sales and the
expense of the company. If the expenses are more the company takes corrective
measures to overcome it.

4)FINANCIAL ANALYSIS

Financial analysis is done to know the exact financial position of the

business. Corrective measures are taken to overcome the differences.

5)MARKET BASED SCORE CARD ANALYSIS

The market based score card analysis is done to know the market
position of the company i.e. whether it has a substantial growth or has
the company lost its market share.
 2) PROFITABILITY CONTROL

1) PRODUCT

Product profitability is checked constantly to see that the product launched is a

profitable and if it does not find so the company takes the corrective measures.

2) TERRITORY

Territory wise profitability is ascertained and decisions are taken either to

do differentiated or undifferentiated marketing

3) CUSTOMER

Customer wise profitability is ascertained and decision are taken to read

customer behaviour more wisely if profitability is low

4) SEGMENT

Segment wise profitability is ascertained and if found low new segment are
being found out.

3. EFFICIENCY CONTROL

1) SALES FORCE

New sales force are being recruited

2) ADVERTISING

New method of advertising are found out

3) SALES PROMOTIONS
New methods of sales promotions are found out

4) STRATEGIC CONTROL

1)Marketing audit

An audit of company is being is taken by different auditors and then measures

are taken

2)Companies ethical and social responsibility review

They play critical role in today’s scenario to have competitive edge over
other companies

SUBMITTED BY

ABHILASHA SINGH – J 02
SWAPNEEL AUTADE -J 08
ASHISH TIWARI – J 07
PRIYANKA AGRAWAL – J 03
ANKIT HEDA – J 05
AMIT SAHU – J 04
DHAWAL THAKUR – J 11
PRAPHUL DATE – J 10
DURGESH SINGH J - 12