What tools are available to help companies monitor and improve their marketing activities?

Marketing costs can amount to as much as a quarter of a company’s total operating budget..

Companies today are striving to make their marketing operations more efficient and their return on marketing

investment more measurable…

An Annual-Plan control ensures the company achieves the sales, profits, and other goals in its annual plan..

Annual plan

A profitability Control helps the companies to examine where it

is making and losing money..

Suppose, your company is

earning poor profits in certain

products,territories, or

markets..

Isn’t there a way to manage the

sales force, advertising etc

and improve the efficiency and

impact of expenditures?

Drum roll Please…

“ It’s Time for an Efficiency Control..”

However, A Strategic Control is required for companies to periodically re assess its strategic approach to the marketplace

with a good marketing audit..

Previous VISA ads focused on people using their Visa credit card for big, extravagant purchases like Designer Jewellery, cruise trips etc..

In a weakened economy VISA chose to change their strategy and made commercials where people made common ,less expensive purchases with their credit cards….

VISA exercised A strategic control Brilliantly to improve

its Marketing Activities..

To succeed in the future, marketing must be more holistic and less departmental…

The benefits of successful 21st century marketing are many, but they will come only with hard work, insight, and inspiration

THE FUTURE OF MARKETING ?

Marketing Excellence in the future will require a new set of skills and competencies…

“This time like all times is a good one, if we but know what to do with it” – Ralph Waldo Emerson

Created by Aishwarya Kandukuri, IIITD&MK during an internship by Prof. Sameer Mathur, IIM Lucknow.

www.IIMInternship.com