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Setting up your marketing control systems

Provided by SME.com.ph

As an entrepreneur, you must prepare a profit-and-loss statement outlining your forecasted sales and your marketing expenses. If data would not be readily available, make educated guesses.  Do you need to invest in a special equipment to support your new product launch?  You can get actual expenses of TV/radio spots or cost of making commercials from suppliers.

 

For controls, you must answer the following questions:

 

  • How are you going to monitor progress?
  • How often are you going to do it?
  • Who will be involved?

 

For effective control, the objectives for each strategy/tactic must be clear to you, so you can evaluate your performance over time. When there is a gap from what was planned and actual performance, corrective measures may then be undertaken.

 

 

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