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To examine whether the company is pursuing its best opportunities with respect to markets, products, and channels is the purpose of which one of the following types of marketing control?

To examine whether the company is pursuing its best opportunities with respect to markets, products, and channels is the purpose of which one of the following types of marketing control? Correct Answer Strategic control

Marketing Control System

The ways and means or the techniques and devices that are employed to assess the marketing performance over a given period are classified into four broad categories by Professor Philip Kotler who also calls these types of control because each type of control makes use of specific techniques and tools of control. As noted earlier, these types of control delineate the scope of the marketing control process.

These are:

  1. Annual plan control
  2. Profitability control
  3. Efficiency control and
  4. Strategic control.

The detailed explanation of the above are as follow:

1. Annual plan control:

  • Annual plan control is the monitoring of current marketing efforts and results to ensure that the annual sales and profit goals are achieved.
  • Annual plan control signifies continuous ongoing performance verification against the annual plan and taking the necessary corrective actions.

2. Profitability control:

  • Profitability control is to determine the actual profitability of the firm’s products, territories, market segments, and trade channels.
  • Profitability control is exercised to examine whether the company is making or losing money.

3. Efficiency Control:

  • Efficiency control is the task of improving the efficiency of marketing activities such as personal selling, advertising, sales promotion, and distribution.
  • Efficiency control is undertaken to evaluate and improve the spending efficiency and impact of marketing expenditures on marketing operations.

4. Strategic Control:

  • Strategic control is the crucial task of making sure that the company’s marketing objectives, strategies, and systems are optimally adapted to the current and forecasted marketing environment.
  • Strategic control refers to the in-depth study undertaken to examine whether the company is pursuing its best opportunities with respect to markets, products, and channels.

Therefore, Examining whether the company is pursuing its best opportunities with respect to markets, products, and channels is the purpose of Strategic control.

Related Questions

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