2 pages/≈550 words
Business & Marketing
Steps to monitor, control and evaluate the effectiveness of your marketing plan (Essay Sample)
Please see attached my marketing plan for Nike Follow Me & Nike Follow Me Plus I need to 1. Discuss how I will monitor, control and evaluate the effectiveness of my marketing plan (Attached worksheet) 2. Develop a budget for your marketing plan. The budget should include all major elements of the plan, including a description and dollar amounts. Do not include items outside the marketing plan (e.g., facilities expenses) unless they are directly related to the launch of your product. THANK YOU source..
STEPS TO MONITOR, CONTROL AND EVALUATE THE EFFECTIVENESS OF A MARKETING PLAN
In marketing, understanding what a market plan is, is of immense important. Having knowledge of what it entails is not the only thing that matters. It is important that the marketer has knowledge on how to control, monitor and evaluate that marketing plan, without which, achievement of the marketer`s goals and objectives becomes hard. A market plan is what guides a marketer in introducing a product or service into the market. It entails all the strategic steps that have to be taken and how the marketer plans to approach the market and how he plans to sustain himself in the market. The plan should include the targets of the marketer which have to be realistic and achievable (Blackwell, 2008).
Market control involves the processes of monitoring the market plan and ensuring that the contents of the plan are followed to the latter. Besides ensuring the plan is implemented as denoted in the plan, it ensures that adjustments are made where appropriate. It thus means that there cannot be planning in the absence of control. In every organization, resources for production are limited; hence control is effective in ensuring that the scarce resources are put into effective use. Market plan control involves setting of standards and comparing thus, for the Nike follow me company, there are many approaches that it would have to consider in controlling its market plan. It will have to consider the market share of the product. This will be achieved by carrying out an analysis on the market share. If the market share of the product is not as set in the plan, then considerable corrective measures have to be undertaken (Blackwell, 2008).
It will also look at the quality and sales analyses as control measures towards the achievement of the goals. Other approaches that could be used in controlling the Nike follow company include the budgets, the marketing i...
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