Control Process, Performance Appraisals, Benchmarking On Lost My Name – Essay Example
The paper "Control Process, Performance Appraisals, Benchmarking On Lost My Name" is a marvelous example of a marketing essay. The control process used in the printing company lost my name based on personalized children’s books is a marketing budget. A marketing budget entails a balanced mix between the advertising costs and revenue from the marketing plan. A close monitor on the marketing budget, as well as internal costs for the marketing department, is useful in cost minimization and profit maximization. Through the use of budget as a control process, lost my name can control its costs (Miller, 2003).
Determination of a company’s marketing plan performance is a vital concern for any marketing plan. The utilization of marketing productivity analysis is an efficient and effective tool in performance appraisal since it is based on the transformation of inputs and outputs into standard measurement units. The Marketing productivity analysis provides the marketing management of lost my name printing company a relevant conceptual model on the efficiency of marketing performance. This conceptual model is similar to other models developed for appraisal purposes in other departments such as manufacturing (Grote, 1996).
A marketing audit is aimed at improving the company’s products and business processes through remaining competitive. This is through the process of studying competitors’ strengths and determining the relevant reference points which will act as measurement points. The process of adapting outstanding business processes and practices from other competitors or other companies is known as benchmarking. Benchmarking is useful in achieving superior marketing results thus facilitating competitive advantages through tangible and quantifiable performance changes. The lost my name printing company can meet benchmarking through adapting business practices of market leaders (Stapenhurst, 2009).