Lesson 7: Evaluation process
Evaluation is an important part of marketing: it helps your company eliminate ineffective strategies and develop an overall plan that helps build your business. By scheduling regular evaluations of your marketing plan, you can save wasted money by modifying or eliminating campaigns that are not reaching your target market or garnering the response you need. As you plan, build in mechanisms to monitor the success of each marketing effort to make evaluation cheaper and easier.
A marketing plan is used to reach a target market with a specific message. As time goes by and the marketplace changes, your company’s structure and approach must change as well, reflecting the new realities in your area of business. In order to keep your marketing plan effective, you need to evaluate your advertising programs at least once a quarter to keep them up to date