The importance of planning, control and evaluation to the business
I am going to explain the importance of planning, control and evaluation of marketing for Coca-Cola. These stages are very important as this is main part of marketing management.
Planning
Jobber defines marketing planning as, “The process by which business analyse the environment, decide upon courses of action, and implement those decisions.
The first stage is to plan; this is a very important stage to any business especially an organisation like Coca-Cola. As Coca-Cola is a large organisation and is worldwide they have to plan very carefully. When planning Coca-Cola have to be careful for reasons such as the ever changing and more competitive marketing environment. By planning it will make sure that Coca-Cola is up to date with everything and can keep track of their competition and stay ahead of them to be more successful.
Another reason to plan is so that businesses such as Coca-Cola don’t make any mistakes. Mistakes can be very costly for Coca-Cola, for example if Coca- Cola were to launch a new flavour drink without planning and knowing what flavours would the customer like to drink then this could cause problems because they can loose the money what they invested. So if they plan then they could prevent this by doing research and getting feedback from customers.
Control
Control is the next stage in marketing management process. Control is basically how the business will control/monitor the marketing. Coca-Cola has to make sure they control everything properly so they can take corrective actions when necessary. Reason for this is because then they won’t loose money and will prevent mistakes. The original plans that Coca-Cola have made should be used to monitor performance. Control is carried out during a marketing plan so they can have control on whether their marketing objectives are met.
Evaluation
The last stage in the management marketing of is the evaluation. Basically Coca-Cola will look at what they have done after they have planned and controlled to see what good/bad points there were of their marketing campaign. They would look at what products have worked well, what products didn’t work well and how they could move forward. This will prevent loss of sales and profits. Also it will prevent mistakes in the future.
Marketing planning process model suggests the several stages that have to be completed in order to arrive at a strategic marketing plan.
The Marketing Planning Process Model
The reason why it is important to plan, control and evaluate is because:
- Allows reflection – constant evaluation means marketing policies/practises are proactive.
- It will help the business to identify sources and give a competitive edge.
The rest of the tasks will follow the stages of the model.
