1 / 8

International Marketing Control

International Marketing Control. International context of control Obtaining performance information Principles of a control system. Simple process of control Control techniques Effective control systems Benchmarking Balanced Scorecard. International Context of Control.

mirra
Download Presentation

International Marketing Control

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. International Marketing Control • International context of control • Obtaining performance information • Principles of a control system. • Simple process of control • Control techniques • Effective control systems • Benchmarking • Balanced Scorecard

  2. International Context of Control • Each international market is different, so strategies and controls will vary • Distance, language differences and cultural variations cause communications problems • Resentment from subsidiaries of HQ control • Local marketing plan will need to controls appropriate for HQ and subsidiaries.

  3. Obtaining Performance Information • Report • Standardised to allow comparison • Use common language • As frequently as necessary • Cover all HQ information needs • Meetings • Gathering of all. Take time and resources • Information Technology • Make control simpler and quicker

  4. Principles of a control system. • Aim to translate strategic plans into actions (Drummond and Ensor 2001). • Ensure that behaviour and operations conform to corporate objectives • Organisations need to measure, compare and analyse variances so that timely corrections can be made • Effective control involves the measurement of inputs as well as outputs. • Control is important because: • ‘You can’t manage what you can’t measure’ adage • Gaining importance to measure ROI in marketing • Moves afoot to include branding in financial accounts.

  5. Simple process of control • Set targets – quantified objectives and/or budgets. • Determine the method(s) of measurement • Measure the results at the end of each period • Compare results against the targets and identify variances • Identify and implement any necessary corrective action.

  6. Control Techniques • Financial analysis e.g. ratio analysis, variance analysis, cash flow, monitoring capital expenditure. • Market analysis – I.e. market demand, market share, marketing resources. • Sales analysis – e.g. sales targets, selling costs. • Physical resources analysis – analysis of plant and equipment utilisation, other measures of productivity and product quality • Systems analysis – consider the effectiveness of implementation and application of marketing resources. • Others. . . . . .

  7. Benchmarking • ‘Benchmark’ core operational standards against the very best in business. • Process benchmarking – compare one process from within the organisation to another. • Competitor benchmarking – compares performance in key areas against that of competitors. • Others?

  8. Balanced Scorecard • Assesses performance across a wider dimension other than just financial performance. (tend to be backward looking) • Customer perspective – e.g. satisfaction and retention. • Internal perspective – e.g. employee behaviour, skills, quality. • Innovation and learning – e.g. idea generation, product development. • The financial perspective – traditional financial measures. Takes a shareholder’s perspective.

More Related