PERFORMANCE MONITORING/MEASUREMENT

Name
Course
Tutor
Date
Performance Monitoring/Measurement
Introduction
The primary objective of a marketing plan is to increase the number of sales and attract more customers. Marketing involves activities like advertising, selling and delivering products to customers. Marketing performance measurement is the backbone of marketing operations they help in the management of resources and activities of the firm to ensure the firm achieves the expected returns while providing quality services to customersCITATION Rog12 p 290-330 l 1033 (Roger Palmer 290-330). The results from these measures are either positive or negative, and management uses them to take immediate action concerning the issue. This article will focus on the marketing plan of a pharmaceutical company. It will also look into the marketing performance measures that can be used to monitor the success or failure of the company. The following are the marketing performance measures that get used in the pharmaceutical company.
Data and analytics
Data and analytics are one of the main activities used for performance measurement. They involve activities of collecting appropriate and accurate data that is crucial to the pharmaceutical company for example data like the number of sales made daily, the day when sales are high and the time when customers are many. The collected data is then analyzed to come up with information that is understood. The company then can use the information to improve their marketing st…