Question

__________ is measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Answer 1

Marketing control is measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

What is Marketing control?

• The organizational discipline of Marketing control focuses on the effective administration of a firm's marketing resources and operations as well as the practical application of marketing orientation, strategies, and procedures inside enterprises and organizations.
• To examine the industrial context in which the company operates, Marketing control uses methods from economics and competitive strategy. Marketing control includes value chain analysis, the examination of strategic groups of competitors, and Porter's five forces, among others.
• When creating detailed competitor profiles, marketers utilize SWOT analysis to concentrate on the relative competitive strengths and weaknesses of each rival in the market.
• Marketing control will look at each rival's cost structure, profit sources, assets, and capabilities as well as its competitive positioning, product differentiation, level of vertical integration, past responses to market changes, and other elements.

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