Evaluating the results of marketing strategies and plans and taking corrective action to ensure that our objectives are attained. Our marketing control involves the basic four steps. Management, which sets specific marketing goals for us to reach to our customers and if they are enjoying the product. We then measure the performance we are either gaining or loosing in the marketplace and evaluating the causes of any differences between the expected and actual qualifications of our product. To see what we need to update and what we should keep as is..” Measuring return on marketing investment has become a major marketing emphasis. But it can be difficult. For example, a Super Bowl ad reaches nearly 100 million consumers but may cost as much as $3 million for 30 seconds of airtime alone. How do you measure the specific return on such an investment in terms of sales, profits, and building customer relationships. (Marketing: an introduction / Gary Armstrong, Philip Kotler. -10th ed., Printed page 58.)
No comments:
Post a Comment