Marketing Controlling at International School Of Management | Flashcards & Summaries

Lernmaterialien für Marketing Controlling an der International School of Management

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Marketing controlling
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  • process of 
        - setting standards and measurement intervals to gauge marketing progress
        - measuring interim results after implementation
        - diagnosing any deviations from standards and making adjustments if needed to achieve planned performance

  • control involves measurement, evaluation and monitoring

  • control involves setting standards
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4 major types of marketing control
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  • annual plan control/financial control

  • profitability control

  • efficiency control

  • strategic control
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Strategic control
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  • is the process of monitoring and correcting a firm’s strategy and performance

  • an organization does 
        - a strategic analysis of the external environmental conditions
        - evaluates its internal capabilities for responding to those conditions
        - formulates a strategy for sustaining a competitive advantage and then
        - implements this strategy

  • once implemented, this strategy must be monitored and adjusted as needed. Effective strategic control systems allow for corrective action to be taken.
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Operational control
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  • operational control is aimed at the allocation and use of organisational resources

  • the goal of operations control is to improve the productivity of marketing efforts

  • the evaluation techniques are classified into three parts:
        - internal analysis (SWOT; VRIO etc.)
        - comparative analysis (competitor analysis)
        - comprehensive analysis (market audit)

  • ways to identify and allocate cost are
        - marketing-cost analysis
        - marketing channel analysis
        - product service analysis
        - customer profitability analysis
        - sales analysis
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Sales controlling 
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  • sales controlling is the goal-oriented management of sales on the basis of information

  • it provides rationally based arguments for the formulation of strategies

  • it is a creative tool, which does not let itself be limited to the recording of sales quantities

  • is understood as forming part of the overall system of company management
 
  • it is based on scientific measurements.
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Goals of sales controlling
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  • optimise number of sales
        - attract a sufficient number of customers

  • maximising profit
        - obtain the maximum gross profit from customers

  • revenue control
        - all of the revenue resulting from sales is realised 
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Objectives of sales controlling
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  • recording of customer satisfaction and requirements / needs / wishes of the customers contacted

  • identification of early warning signals, in particular in relation to trends in the business environment and from the competition

  • collection of data which allows a fair and variable salery of sales staff

  • provision of information for planning, implementation and control of targeted marketing and sales activities
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Brand audit
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  • a brand audit is a process used to analyze how a brand is performing in the market and against the competition 

  • a brand audit requires understanding sources of brand equity from the perspective of both the firm and the consumer

  • the brand audit consists of two activities: brand inventory and brand exploratory

  • a brand audit describes and evaluates the current state of a brand and its effectiveness in achieving a company’s business objectives
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Purpose of brand audit
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  • assesses how well the brand is delivering against the company’s objectives

  • identifies customer wants, needs, and trends at the category level

  • inventories and categorizes all existing brand elements and assets (trademarks, sub- brands, logos, taglines) in the brand portfolio

  • describes relevant competitive market trends and your brand’s strengths/weaknesses

  • evaluates the brand’s current image (how it is perceived by customers and other key stakeholders)

  • identifies potential sources of differentiation, table stakes, vulnerabilities
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TESTE DEIN WISSEN
Brand value chain
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  • the brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the way marketing activities create brand value

  • brand value creation begins when the firm targets actual or potential customers by investing in a marketing program to develop the brand, including marketing communications, trade or intermediary support, and product research, development, and design

  • next, these customers’ mind-sets will affect buying behavior and the way consumers respond to all subsequent marketing activity—pricing, channels, communications, and the product itself—and the resulting market share and profitability of the brand

  • finally, the investment community will consider this market performance of the brand to assess shareholder value in general and the value of a brand in particular.

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Benefits of ABC Analysis
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  • better profitability measures due to more accurate costs

  • better decision making: identification of value-added vs. non-value-added activities and associated costs

  • information for process improvement

  • improved cost planning

  • helps identify and control the cost of unused capacity
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TESTE DEIN WISSEN
Advantages of ABC Analysis
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 1. It allows for stricter monitoring and controls of high dollar volume items, the items that contribute the most to your sales

2. For businesses without adequate computer tracking systems, ABC analysis provides a higher level of inventory control than the “gut” feeling or guesstimating control method. Higher control level also allows less resources to be spent on clerical duties, and shortages.

3. Due to the high level of inventory control in ABC analysis for inventory, there is an increase in turnover and service levels. Constant monitoring of the high dollar volume items allows a manager to track the items and to maintain proper inventory levels.

4. Prioritizing items helps allocate resources more efficiently. Because there is a formal method of inventory control, management can spend more time forecasting changes in policy and other costs instead of wasting time making ordering decisions and preventing spoilage.
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Q:
Marketing controlling
A:
  • process of 
        - setting standards and measurement intervals to gauge marketing progress
        - measuring interim results after implementation
        - diagnosing any deviations from standards and making adjustments if needed to achieve planned performance

  • control involves measurement, evaluation and monitoring

  • control involves setting standards
Q:
4 major types of marketing control
A:
  • annual plan control/financial control

  • profitability control

  • efficiency control

  • strategic control
Q:
Strategic control
A:
  • is the process of monitoring and correcting a firm’s strategy and performance

  • an organization does 
        - a strategic analysis of the external environmental conditions
        - evaluates its internal capabilities for responding to those conditions
        - formulates a strategy for sustaining a competitive advantage and then
        - implements this strategy

  • once implemented, this strategy must be monitored and adjusted as needed. Effective strategic control systems allow for corrective action to be taken.
Q:
Operational control
A:
  • operational control is aimed at the allocation and use of organisational resources

  • the goal of operations control is to improve the productivity of marketing efforts

  • the evaluation techniques are classified into three parts:
        - internal analysis (SWOT; VRIO etc.)
        - comparative analysis (competitor analysis)
        - comprehensive analysis (market audit)

  • ways to identify and allocate cost are
        - marketing-cost analysis
        - marketing channel analysis
        - product service analysis
        - customer profitability analysis
        - sales analysis
Q:
Sales controlling 
A:
  • sales controlling is the goal-oriented management of sales on the basis of information

  • it provides rationally based arguments for the formulation of strategies

  • it is a creative tool, which does not let itself be limited to the recording of sales quantities

  • is understood as forming part of the overall system of company management
 
  • it is based on scientific measurements.
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Q:
Goals of sales controlling
A:
  • optimise number of sales
        - attract a sufficient number of customers

  • maximising profit
        - obtain the maximum gross profit from customers

  • revenue control
        - all of the revenue resulting from sales is realised 
Q:
Objectives of sales controlling
A:
  • recording of customer satisfaction and requirements / needs / wishes of the customers contacted

  • identification of early warning signals, in particular in relation to trends in the business environment and from the competition

  • collection of data which allows a fair and variable salery of sales staff

  • provision of information for planning, implementation and control of targeted marketing and sales activities
Q:
Brand audit
A:
  • a brand audit is a process used to analyze how a brand is performing in the market and against the competition 

  • a brand audit requires understanding sources of brand equity from the perspective of both the firm and the consumer

  • the brand audit consists of two activities: brand inventory and brand exploratory

  • a brand audit describes and evaluates the current state of a brand and its effectiveness in achieving a company’s business objectives
Q:
Purpose of brand audit
A:
  • assesses how well the brand is delivering against the company’s objectives

  • identifies customer wants, needs, and trends at the category level

  • inventories and categorizes all existing brand elements and assets (trademarks, sub- brands, logos, taglines) in the brand portfolio

  • describes relevant competitive market trends and your brand’s strengths/weaknesses

  • evaluates the brand’s current image (how it is perceived by customers and other key stakeholders)

  • identifies potential sources of differentiation, table stakes, vulnerabilities
Q:
Brand value chain
A:
  • the brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the way marketing activities create brand value

  • brand value creation begins when the firm targets actual or potential customers by investing in a marketing program to develop the brand, including marketing communications, trade or intermediary support, and product research, development, and design

  • next, these customers’ mind-sets will affect buying behavior and the way consumers respond to all subsequent marketing activity—pricing, channels, communications, and the product itself—and the resulting market share and profitability of the brand

  • finally, the investment community will consider this market performance of the brand to assess shareholder value in general and the value of a brand in particular.

Q:
Benefits of ABC Analysis
A:
  • better profitability measures due to more accurate costs

  • better decision making: identification of value-added vs. non-value-added activities and associated costs

  • information for process improvement

  • improved cost planning

  • helps identify and control the cost of unused capacity
Q:
Advantages of ABC Analysis
A:
 1. It allows for stricter monitoring and controls of high dollar volume items, the items that contribute the most to your sales

2. For businesses without adequate computer tracking systems, ABC analysis provides a higher level of inventory control than the “gut” feeling or guesstimating control method. Higher control level also allows less resources to be spent on clerical duties, and shortages.

3. Due to the high level of inventory control in ABC analysis for inventory, there is an increase in turnover and service levels. Constant monitoring of the high dollar volume items allows a manager to track the items and to maintain proper inventory levels.

4. Prioritizing items helps allocate resources more efficiently. Because there is a formal method of inventory control, management can spend more time forecasting changes in policy and other costs instead of wasting time making ordering decisions and preventing spoilage.
Marketing Controlling

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