Final Project: Implementation Evaluation Control

“Companies generally create yearly marketing plans, although some plans cover a longer period. Marketers start planning well in advance of the implementation date to allow time for marketing research, thorough analysis, management review, and coordination between departments. Then, after each action program begins, marketers monitor ongoing results, compare them with projections, analyze any differences, and take corrective steps as needed. Some marketers also prepare contingency plans for implementation if certain conditions emerge. Because of inevitable and sometimes unpredictable environmental changes, marketers must be ready to update and adapt marketing plans at any time.” (Marketing: An Introduction Armstrong/Kotler Appendix 1 pg. MP2) Once Cherry Poppers has been out in the market for a year, a new marketing strategy that assesses the current status of our product shall be developed. Depending on the stage of the life cycle our product is we will then change our pricing from a good-value pricing to a complete value-based pricing creating a larger income. Transitioning from radio spots to television ads that portray the elegance of Cherry Poppers. Slowly moving from a centered demographic to a larger and expanding target market that not only encompasses middle-aged single women but also married and younger women living in areas ranging from the city to the suburbs. “For effective implementation and control, the marketing plan should define how progress toward objectives will be measured. Managers typically use budgets, schedules, and performance standards for monitoring and evaluating results. With budgets, they can compare planned expenditures with actual expenditures for a given week, month, or other period." (Marketing: An Introduction Armstrong/Kotler Appendix 1 pg. MP2) In order to complete an effective and successful implementation and control of Cherry Poppers in the marketplace, measures and research shall be performed. In order to see progress in the products maturity, there has to be a 5% revenue over budget, that way we may know that our product is in a stable, healthy, and promising stage of its life cycle. "Schedules allow management to see when tasks were supposed to be completed—and when they were actually completed. Performance standards track the outcomes of marketing programs to see whether the company is moving toward its objectives. Some examples of performance standards are: market share, sales volume, product profitability, and customer satisfaction.” (Marketing: An Introduction Armstrong/Kotler Appendix 1 pg. MP2)