AboutAlex J. Caffarini Expertise I can answer questions on any of the following:
* Determining the best marketing research method for your needs;
* Conducting surveys (including questionnaire design);
* Measuring the effectiveness of marketing promotions;
* Determining market size or market share;
* Data analysis;
* Statistical modeling;
* Sales or business forecasting; and
* Market segmentation.
Experience I have 15 years of marketing research experience across several different industries, including banking, insurance, retail, and non-profit.
Organizations American Marketing Association
Education/Credentials M.B.A. in Marketing and Quantitative Methods, and B.B.A. in Economics, both from Loyola University Chicago.
Question 1. In setting up an evaluation and control system for
the purpose of strategic marketing management, how
frequently should performance be assessed?
2. What steps can be taken to facilitate the effective
implementation of strategies specified in the strategic
marketing plan?
Answer Katie,
Performance should be assessed as often as the information the system provides is needed. For example, if your company had developed a statistical model to forecast monthly sales based on promotion expenditures, past sales, and economic growth, you might compare the model's forecasting range with that of sales each month. Model performance - much like the performance of any evaluation and control system - degrades over time. By tracking model performance against sales at similar intervals, you can know when your model requires simple tweaks or an outright overhaul.
To facilitate the effective implementation of strategies stated within the marketing plan, you should designate an owner for each strategy; ensure that adequate resources are available for implementing the strategies; and ensure that each goal in the implementation plan is specific, measurable, attainable, realistic, and time-bound (SMART). You should also have an open communication process with each "owner" and encourage feedback to understand where problems and opportunities may lie.
