Reaction Paper 11
Beltran,Diannavil Q.
Corporate Planning
Reaction Paper: Evaluation and Control
Implementation, evaluation and control are like the three legs of a stool; remove one, and the stool wobbles and crashes to the ground. If you remove one of these items from a marketing plan, it falls apart, and the plan won't succeed. All three are necessary for the successful completion of marketing activities that help businesses achieve their strategic goals.
Missteps in the implementation phase of a marketing plan can be disastrous. Implementation means execution, or the actual steps the company will take to promote its business. These steps may include running ads, launching a website or sending direct mail. If the implementation isn't completed according to plan, the company won't achieve its strategic objectives. The best ideas still need to be enacted. The implementation phase of the marketing plan makes sure the marketing activities happen in the correct time and sequence for success.
The evaluation step of a marketing plan focuses on analyzing quantitative and qualitative metrics associated with the implementation and strategy. Quantifiable metrics are those to which numbers can be attached, such as the numbers of sales leads obtained, customers reached and dollar amounts achieved. Qualitative factors include measures of customer satisfaction. Evaluating the marketing plan means looking at the data and examining whether or not the company achieved its strategy objectives from the implementation phase. If it did, the steps can be replicated for future success. If not, changes can be made to improve performance and results.
Controls are necessary for the evaluation phase. Controls established during the creation of the marketing plan provide benchmarks to assess how well the plan accomplished its goals. Controls are like goals; they give the company something to aim for when enacting the plan. Controls may include measures such as the marketing budgets and market share.
Corporate Planning
Reaction Paper: Evaluation and Control
Implementation, evaluation and control are like the three legs of a stool; remove one, and the stool wobbles and crashes to the ground. If you remove one of these items from a marketing plan, it falls apart, and the plan won't succeed. All three are necessary for the successful completion of marketing activities that help businesses achieve their strategic goals.
Missteps in the implementation phase of a marketing plan can be disastrous. Implementation means execution, or the actual steps the company will take to promote its business. These steps may include running ads, launching a website or sending direct mail. If the implementation isn't completed according to plan, the company won't achieve its strategic objectives. The best ideas still need to be enacted. The implementation phase of the marketing plan makes sure the marketing activities happen in the correct time and sequence for success.
The evaluation step of a marketing plan focuses on analyzing quantitative and qualitative metrics associated with the implementation and strategy. Quantifiable metrics are those to which numbers can be attached, such as the numbers of sales leads obtained, customers reached and dollar amounts achieved. Qualitative factors include measures of customer satisfaction. Evaluating the marketing plan means looking at the data and examining whether or not the company achieved its strategy objectives from the implementation phase. If it did, the steps can be replicated for future success. If not, changes can be made to improve performance and results.
Controls are necessary for the evaluation phase. Controls established during the creation of the marketing plan provide benchmarks to assess how well the plan accomplished its goals. Controls are like goals; they give the company something to aim for when enacting the plan. Controls may include measures such as the marketing budgets and market share.