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Team Hyper Thought (1)

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1 views

Team Hyper Thought (1)

Uploaded by

ak370625
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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[GROUP 2225072 2225024

LEADER] Jannatara Snigdha MD.MOSHIUR RAHMAN


2225016
MD.ASIF MIA

2225019 2225011
Md Niaz Ahammad Md Jennu Raien Jehad
THE
CONTROLLING
PROCESS
INTRODUCTION TO
MANAGMENT CONTROL

In this presentation, we will explore


effective control strategies in marketing.
Understanding these strategies is essential
for ensuring that your marketing efforts
are aligned with your business objectives
and can adapt to changes in the market
environment.
IMPORTANCE OF
MANAGMENT
CONTROL
M anagment control is crucial for
measuring performance against goals.
It helps organizations identify
deviations from the plan and
implement corrective actions.
This ensures that efforts are both
efficient and effective in achieving
desired outcomes.
2225072
Jannatara Snigdha
TYPES OF CONTROL

There are several types of control,


including annual plan control,
profitability control, and strategic
control. Each type focuses on
different aspects of marketing
performance, helping
organizations to maintain their
competitive edge.
SETTING CONTROL
STANDARDS
Establishing control standards is
vital for effective control. These
standards should be specific,
measurable, achievable, relevant,
and time-bound (SM ART). This
framework allows organizations to
track their progress and make
informed decisions.
MONITORING
PERFORMANCE
•REGULARLY MONITORING PERFORMANCE IS ESSENTIAL FOR IDENTIFYING
ISSUES EARLY. THIS CAN BE DONE THROUGH VARIOUS METHODS, SUCH AS SURV
AND CUSTOMER FEEDBACK. TIMELY MONITORING ALLOWS FOR QUICK ADJUSTM
STRATEGIES.
CORRECTIVE
ACTIONS
W hen performance does not meet
expectations, implementing
corrective actions is necessary. This
may involve revising marketing
strategies, reallocating resources, or
enhancing team training. The goal is
to realign efforts with business
objectives.
FEEDBACK
MECHANISMS
•ESTABLISHING FEEDBACK MECHANISMS IS CRUCIAL FOR CONTINUOUS
IMPROVEMENT.
•GATHERING INSIGHTS FROM CUSTOMERS AND STAKEHOLDERS HELPS
REFINE MARKETIN
•STRATEGIES. THIS APPROACH ENSURES THAT ORGANIZATIONS REMAIN
RESPONSIVE TO MARKET
•CHANGES AND CUSTOMER NEEDS.
USE OF
TECHNOLOG
Y
Leveraging technology in control
can enhance efficiency. Tools such
as marketing automation software
and analytics platforms provide
valuable data for tracking
performance and making data-
driven decisions, thus optimizing
marketing efforts.
ALIGNING MANAGMENT
WITH BUSINESS GOALS

It's essential to ensure that


managment control strategies are
aligned with overall business
goals. This alignment fosters a
cohesive approach and maximizes
the impact of marketing initiatives
on the organization's success.
EVALUATING THE EFFECTIVENESS OF MANAGMENT STRATEGIES
INVOLVES ANALYZING OUTCOMES AGAINST SET GOALS. THIS
EVALUATION INFORMS FUTURE MARKETING DECISIONS AND HELPS IN
REFINING STRATEGIES FOR BETTER PERFORMANCE AND ROI
CHALLENGES IN
MANAGEMENT
CONTROL
•ORGANIZATIONS MAY FACE CHALLENGES IN MARKETING CONTROL, SUCH
AS DATA OVERLOAD, CHANGING MARKET CONDITIONS, AND RESOURCE CONSTR
CHALLENGES REQUIRES A PROACTIVE APPROACH AND A COMMITMENT TO CONT
ADAPTATION.
CONCLUSION AND KEY
TAKEAWAYS

In conclusion, mastering managment control strategies is


essential for achieving business success. By setting clear
standards, monitoring performance, and being responsive to
feedback, organizations can ensure their marketing efforts are
both effective and efficient.
THANKS!

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