Svend Hollensen GLOBAL MARKETING 4 th Edition 19 Organization and control of the global marketing programme
Learning objectives ¦Describe the key elements of the marketing control system ¦List the most important measures for marketing performance ¦Explain how a global marketing budget is established ¦Understand the steps in developing the global marketing plan Hollensen, Global Marketing 4 e, © Pearson Education 2008 2
Figure 19. 9 The firm’s budget and control system Building the marketing plan; global marketing decisions Budgeting Hollensen, Global Marketing 4 e, © Pearson Education 2008 Controlling 3
What is this? What term refers to the regular monitoring of output, like profits, sales, and expenditures? Output control Hollensen, Global Marketing 4 e, © Pearson Education 2008 4
Figure 19. 10 The marketing control system Decide objectives, strategies, plans for implementation Alter standards Alter objectives Establish marketing performance standards Locate responsibility Reward, promote, Advise, punish Evaluate Take corrective/ supportive action Hollensen, Global Marketing 4 e, © Pearson Education 2008 5
Measures to control, fx ¦Product: Sales per market/time, new products, growth rates, market share, margin etc ¦Pricing: Relative to competitors, changes relative to sales volume, response time, margins etc. ¦Distribution: Sales, expense and contribution margin, on-time delivery, logistics cost etc ¦Communication: Ad effectiveness, sales per sales call, new/lost accounts, cost per contact etc. Hollensen, Global Marketing 4 e, © Pearson Education 2008 6
Figure 19. 11 Adjustment of global marketing strategy Feedforward International marketing strategy Early symptoms Change in marketing strategy Marketing impact Revised Marketing impact Feedback Source: Samli et al. , 1993, p. 425. Hollensen, Global Marketing 4 e, © Pearson Education 2008 7
Early performance indicators ¦Sudden drop in quantities demanded ¦Sharp change in sales volume ¦Customer complaints ¦Large volumes of returned merchandise ¦Excessive requests for parts or reported repairs ¦Sudden change in fashions or styles Source: Samli et al. , 1993, p. 421. Hollensen, Global Marketing 4 e, © Pearson Education 2008 8
Types of marketing control Strategic control Efficiency control Annual plan control Profit control/budget control Hollensen, Global Marketing 4 e, © Pearson Education 2008 9
Figure 19. 12 The hierarchy of sales and control Hollensen, Global Marketing 4 e, © Pearson Education 2008 10
Figure 19. 13 Marketing budget and its underlying determinants Hollensen, Global Marketing 4 e, © Pearson Education 2008 11
For discussion ¦Discuss why firms need global marketing controls. ¦What is meant by performance indicators? Why does a firm need them? Hollensen, Global Marketing 4 e, © Pearson Education 2008 12
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