27. Marketing Information System

MIS affects all areas of business

Manufacturing

Accounting & Finance

Human resources

Marketing

Top management

28. Marketing Plan

The marketing plan is the central instrument for directing and coordinating the marketing effort.

Market Planning is the managerial process of developing and maintaining a viable fit between the organization’s objectives, skills and resources and its changing market opportunities.

The marketing plan operates at two levels. The strategic marketing plan develops the broad marketing objectives and strategies based on an analysis of target market and value proposition.

The tactical marketing plan outlines specific marketing tactics, including advertising, merchandising, pricing, channels, service and so on.

29. Marketing control

Marketing control is gathering information on marketing performance and comparing the achieved performances against planned or budgeted performances using predetermined standards and yardstick. It is the process of taking steps to bring actual results and desired results closer together.

The aim of control systems is to evaluate the results of the marketing plan so that corrective action can be taken if performance does not match objectives.

Mark control process

Establishing performance standards

Appraising the performance

Correcting deviation

Reforming the plan