Marketing Planning and Control Theory and Its Applications in a Competitive Industry

Abstract

This paper explores the practical acceptance of the various tools, techniques, planning and control aids and performance evaluation criteria which have been recommended by the “conventional wisdom” of the marketing literature. The tools, techniques, etc. chosen for this study were those that have been part of the academic marketing literature for well over 15 – 20 years. It was hypothesised that given this long period of time for the theory to perculate into practice, evidence of significant usage of such tools, techniques, etc. should be found in industry, especially in a highly competitive industry. In such an industry, it was expected that firms would be applying the conventional wisdom of marketing theory to focus on both strategy and tactics in order to gain a competitive advantage.

The findings of the study are that marketers are taking a tactical focus based on the short-term, rather than a longer-term strategic focus; and that even in a highly competitive industry, marketing executives place more importance on the planning aids, performance evaluation techniques and control measures developed in managerial accounting, than those developed in the mainstream of marketing theory.