2. What metrics and tools can be used to assess the successful implementation of the marketing plan?
3. How should the marketing plan be monitored? What circumstances prompt a change in strategy? Who is ultimately responsible for these decisions within an organization?
The main criteria that should be used to determine if a marketing plan implementation is successful or not is the impact of the plan on the main objective of the plan. The key objectives of any marketing plan include improvements in sales and profitability, market share, brand awareness and visibility, expansion of geographical reach, etc. Hence, these criteria can be used to evaluate the effectiveness of marketing campaigns.
Metrics such as sales or revenue growth, market share, etc. can be compared with historical figures to ascertain the impact of marketing strategies on the revenue and profitability of the organization. Similarly, metrics such as decline in customer complaints, improvement in customer retention, etc. can also reflect success of marketing campaign.
Managers can also evaluate qualitative criteria such as improvement in brand visibility, reputation and ...
Discusses the criteria for determining the success of marketing plan.