Marketing planning and control are related concepts that involve implementing measures such as market research, budget analysis, sales analysis, demographic profiling, and product testing to develop an effective marketing plan. These measures help a company make informed choices about the direction of its marketing and control marketing costs.
Marketing planning and marketing control are two related concepts that focus on the process of developing an effective marketing plan. The relationship between marketing planning and control is that control measures or plans must be implemented as part of a viable marketing plan to keep the entire marketing process under tight control. Failure to implement good control measures to keep the marketing process under control could lead to the failure of the marketing plan. To this end, some marketing control measures include factors such as market research, budget analysis, sales analysis, demographic profiling and product test drives.
One factor in marketing planning and control is conducting market research to gain insight into various aspects of the marketing environment. Such factors include other competitors, the nature of the industry, and facts such as import and export quotas as well as customs duties. The importance of this type of research for marketing planning and control is the fact that such knowledge can be applied to appropriate marketing planning and control measures that will help the company make informed choices about the direction of its marketing.
An analysis of the company’s overall budget for general marketing purposes for a set period and the analysis of the marketing budget for specific projects also contribute to marketing planning and control. Knowing your budget will allow for better allocation and management of resources for marketing purposes. This will allow the business to control marketing costs and stay within the budget allocated for the marketing effort.
Analysis of the sales results of competitors for similar products in conjunction with the study of how the product was received by consumers will contribute to effective marketing planning and control. The company can use the insights gained from the study to develop a better marketing strategy. Knowing the target demographic for your marketing efforts will also help narrow down your marketing efforts. For example, if the company knows its target demographic is girls between the ages of three and seven, then it will focus its resources towards that segment of consumers rather than wasting resources marketing its products to the general public. This type of information is especially important when the company is working with limited resources that it must conserve through the use of a concise and focused marketing plan.
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