controlling marketing effort & global market selection

CONTROLLING OF MARKETING EFFORTS&

GLOBAL TARGET MARKET SELECTION

Presented by:

Rajan Shilpakar

CONTROLLING OF MARKETING EFFORTS

• Marketing control involves setting a desired standard, measuring deviations from the standard and taking the appropriate action.

• Both positive as well as negative deviations can be a cause for concern.

• since not all deviations are significant, parameters are set for “allowable” deviations and only those exceeding these parameters are investigated.

1. Managing the Marketing Effort

• The company wants to design and put into action the marketing mix that will best achieve its objectives in target markets.

a. the annual plan controlb. profitability controlc. efficiency control and d. strategic control.

2. Marketing Analysis• Marketing

analysis involves a complete analysis of the company's situation.

3.

4.

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

1.Operating control & 2.Strategic control.

5. Dealing with the Marketing Environment

• The company must carefully analyse its environment in order to avoid the threats and take advantage of the opportunities.

a. Close Forcesb. Broader Forces

GLOBAL TARGET MARKET SELECTION

• Target markets should be selected after careful consideration of various factors like political embargo, scope of exporter’s selected product, demand stability, preferential treatment to products from developing countries, market penetration by competitive countries and products, distance of potential market, transport problems, language problems,

• collect adequate market information before selecting one or more target markets.

Political/Legal Considerations• Unstable political systems

generally make markets very risky and unattractive for firms interested in foreign markets.

• The international marketer has also to consider regional trading blocks such as Association of South East Asian Nations (ASEAN), European Free Trade Association (EFTA), and North American Free Trade Agreement (NAFTA) etc. SAARC countries are trying to strengthen the trade association.

Economic Considerations• The company would consider

GDP per capita, and income distribution.

• Share market, Buying capacity of customer, profession of people, remittance, etc

• For example, a company may need efficient Internet availability, warehousing, and courier services to do business.

Social/Cultural Considerations• culture will include various aspects of

material, religion, social, beliefs and behaviour, aesthetic, education, and language dimensions. Individual consumers from different cultures patronise different products and may respond in different ways towards the same product.

• For example, Barbie Doll in Japan.

Technological Considerations:• Considering technological aspects is

necessary when getting involved in international marketing operations.

• A major concern of businesses is communications facilities that differ across different countries of the world. Communications influences speed of response to customers, suppliers, and others.

• For companies using high technology, availability of skilled manpower is necessary to produce goods and services in the local market.

• Example: Loadshading

Thank you !

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