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15 January, 2016 - 09:19

Katie Scallan-Sarantakes

http://app.wistia.com/embed/medias/f33fa6fb78

Marketing is a fun job, but it is more than that. Marketing professionals have to deliver business results with all of the work they do. As Katie Scallan-Sarantakes describes, you have to prove your ability to deliver value.

KEY TAKEAWAY

The key to a successful ongoing marketing strategy is twofold: understanding causality and good marketing plan execution. Drawing the wrong conclusions about causality, or what actually causes a change in a company’s sales performance, can lead to disastrous results. That’s why companies investigate the causes by gathering market feedback and conducting market research. Another tool that can be used to research a change in a company’s sales performance is a marketing audit. A marketing audit is an examination or a snapshot of the state of a company’s marketing strategies as they are actually implemented. Complete and partial audits can be done internally or by a consulting firm in order to find areas for improvement.

REVIEW QUESTIONS

  1. What is the difference between managerial control and statistical control? How is statistical control used?
  2. What should a marketing audit accomplish?