logo

Marketing Analytics Assessment Answer

   

Added on  2021-06-17

7 Pages1066 Words40 Views
Running head: MARKETING ANALYTICSMarketing AnalyticsName of StudentName of UniversityAuthor Note

1MARKETING ANALYTICSContentsWays of monitoring the marketing plan..........................................................................................2Strategies for measuring performance.............................................................................................3Sources of Information....................................................................................................................3Responsibility of the research..........................................................................................................4Revision of plan...............................................................................................................................4Forecasting Methodology................................................................................................................4Feedback Utilization........................................................................................................................4References........................................................................................................................................5

2MARKETING ANALYTICSWays of monitoring the marketing planThe marketing plan is a document which is closely associated with the development ofthe marketing activities and how any organization would be able to recognize their position andoperate within the business organizations as well (Westwood, 2016). The monitoring of themarketing plan is essential in finding out how the marketing plan will become feasible andaccurate for any business organizations (Westwood, 2016). The monitoring of the marketing planis done with the help of the certain elements which includes the development proper monitoringplan for the study. There are certain ways by which the marketing plan should be monitored andthey have been given below.Contingency or Back up Plan- The contingency plan is defined as the back-up plan whichevery organization need to be developed in case the master plan if fails to hit the market. Thereare times when people do not develop the back up plans and this result in the failure of themarketing plan to be taken place (Westwood, 2016). Thunder Bolt Development LLC does nothave the contingency plan in order to understand the market. So for monitoring contingency planneeds to be developed. Changes in the Internal and External Environment- The monitoring of the marketing planis required for measuring the changes in the internal as well the external environment. Theidentification of the 4Ps of marketing should be monitored for the effective marketing plan to beestablished in a comprehensive manner (Westwood, 2016). Understanding of competitor strategies- The marketing manager should be able tounderstand the competitor strategies for the monitoring of the marketing plan.

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Marketing Plan for Stargrafix Marketing LLC
|20
|5702
|229

Operational Plan Development for BBQfun Company
|10
|1616
|464

Report on Agriculture Information Technology
|6
|797
|149

Business Strategy and Planning for McDonald's in New Zealand
|21
|4064
|416

Marketing Strategies for Coca Cola: Market Development, Analysis, and Mix
|11
|3314
|359

Marketing Strategies for Berries' Crushy Crusty Pie
|8
|537
|385