Marketing Plan Phase IV Plus Complete Plan Essay Examples

- Marketing Plan Phase IV
- Marketing Plan Phase IV
- There are various quantifiable elements used to evaluate, monitor, and control the effectiveness of the marketing plan (Noe, 2012). The first element is sales, which is done by determining changes in quantities of iPad 4 sold over a given period. If sales are increasing over time, then the marketing plan is effective. Constant decrease in sales is an indication that a marketing plan is ineffective, and it should be revised. The second element is the response from customer surveys, especially educational institutions. Feedback from the monitoring process reveals the extent to which customers are satisfied with the company’s products and the appropriate adjustments required to enhance marketability. The third quantifiable element is the SWOT analysis (Noe, 2012). The SWOT analysis shows the strengths of and opportunities open to the marketing function of iPad 4 and enable the marketing team to maximize on them (Coen, 2009). SWOT analysis is also vital as it helps Apple Company to identify the threats and weaknesses of the iPad 4 marketing and design contingency plans to avoid the associated risks.
- A quality marketing plan must have performance objectives, which are used to determine the success of the marketing process. Higher profit margins indicate the effectiveness of the marketing plan while lower profit margins shows that the marketing plan not successive. Apple Company seeks a wide market share in order to sell its iPad 4. Achieving a large market share reveals that the marketing plan is effective (Noe, 2012). The company needs to produce an effective promotional campaign, which primarily targets educational institutions. The speed with which iPad 4 penetrates the market shows that Apple is successful or not. Another performance objective is customer retention. Apple Company’s success in retaining customers for iPad 4 is a cornerstone for the company’s prosperity. The process of evaluating these performance objectives includes setting standards, initiating activities to achieve the objectives, controlling performance, and evaluation.
- References
- Coen, W. A. (2009). Marketing plan. S.l.: John Wiley And Sons.
- Noe, R. A. (2012). Human resource management: Gaining a competitive advantage. New York: McGraw-Hill Irwin.