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An essay on the realm of performance control in marketing strategy

An essay on the realm of performance control in marketing strategy

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Journal of Management and Marketing Research Volume 20 An essay on the, Page 1 An essay on the realm of performance control in marketing strategy Nagasimha Balakrishna Kanagal Indian Institute of Management Bangalore ABSTRACT The realm of performance control includes (i) decision control of strategy or directing; planning and control of strategy; performance control of strategy - strategic control and tactical control to correct strategy through a process of feedback and counter trouble if any; and dynamic adjustments to competition and market (ii) performance control of structure and associated integration and linkages issues (iii) performance control of conduct - measures to reinforce successes; measures to overcome failures by a process of learning, implementation changes; and measures to counter ruin. Useful performance control is possible through an understanding, identification and management of uncertainty, risk and goodwill. The usage of metrics to establish standards of expected performance and obtain measures of actual performance enabling control is also an important consideration in the process of performance control in marketing management and strategy. Keywords: performance control, legitimacy equity, legitimacy risk, integration, risk, goodwill
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Journal of Management and Marketing Research Volume 20 An essay on the, Page 2 INTRODUCTION AND RESEARCH SCOPE One of the paradigms of management can be stated as to achieve organizational goals and objectives with optimal use /deployment of resources and includes (i) strategy (includes planning, forecasting and directing) (ii) structure or organizing (includes staffing) to execute the strategy (iii) conduct or the actual process of execution (including coordinating) (iv) measuring, comparing and managing performance. Performance is the status of outcomes of decision making to the organization and / or the status of delivery of the marketing offer to the customer and / or to the firm; the status assessed on single or multiple dimensions / elements of managerial / marketing relevance. Marketing strategy is a business cum functional strategy with a customer orientation and a competitive focus; from a functional perspective marketing strategy consists of positioning strategy, product strategy, branding strategy, pricing strategy, sales and distribution strategy, and communication strategy. The marketing strategy interfaces with the R&D and innovation strategy of a firm. The R&D and innovation strategy of a firm is guided by the technology strategy of the firm. The technology strategy interfaces with product strategy, the marketing strategy as a whole, the production and manufacturing strategy, the people and quality strategies, the financial strategy, the business strategy and the corporate strategy.
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