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International Marketing Control

International Marketing Control. International context of control Obtaining performance information Principles of a control system. Simple process of control Control techniques Effective control systems Benchmarking Balanced Scorecard. International Context of Control.

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International Marketing Control

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  1. International Marketing Control • International context of control • Obtaining performance information • Principles of a control system. • Simple process of control • Control techniques • Effective control systems • Benchmarking • Balanced Scorecard

  2. International Context of Control • Each international market is different, so strategies and controls will vary • Distance, language differences and cultural variations cause communications problems • Resentment from subsidiaries of HQ control • Local marketing plan will need to controls appropriate for HQ and subsidiaries.

  3. Obtaining Performance Information • Report • Standardised to allow comparison • Use common language • As frequently as necessary • Cover all HQ information needs • Meetings • Gathering of all. Take time and resources • Information Technology • Make control simpler and quicker

  4. Principles of a control system. • Aim to translate strategic plans into actions (Drummond and Ensor 2001). • Ensure that behaviour and operations conform to corporate objectives • Organisations need to measure, compare and analyse variances so that timely corrections can be made • Effective control involves the measurement of inputs as well as outputs. • Control is important because: • ‘You can’t manage what you can’t measure’ adage • Gaining importance to measure ROI in marketing • Moves afoot to include branding in financial accounts.

  5. Simple process of control • Set targets – quantified objectives and/or budgets. • Determine the method(s) of measurement • Measure the results at the end of each period • Compare results against the targets and identify variances • Identify and implement any necessary corrective action.

  6. Control Techniques • Financial analysis e.g. ratio analysis, variance analysis, cash flow, monitoring capital expenditure. • Market analysis – I.e. market demand, market share, marketing resources. • Sales analysis – e.g. sales targets, selling costs. • Physical resources analysis – analysis of plant and equipment utilisation, other measures of productivity and product quality • Systems analysis – consider the effectiveness of implementation and application of marketing resources. • Others. . . . . .

  7. Benchmarking • ‘Benchmark’ core operational standards against the very best in business. • Process benchmarking – compare one process from within the organisation to another. • Competitor benchmarking – compares performance in key areas against that of competitors. • Others?

  8. Balanced Scorecard • Assesses performance across a wider dimension other than just financial performance. (tend to be backward looking) • Customer perspective – e.g. satisfaction and retention. • Internal perspective – e.g. employee behaviour, skills, quality. • Innovation and learning – e.g. idea generation, product development. • The financial perspective – traditional financial measures. Takes a shareholder’s perspective.

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