Budget for Apple Vision Research Paper Example | Topics and Well Written Essays - 1250 words

Budget for Apple Vision - Research Paper Example Quantifiable Elements for Evaluating, Monitoring, and Controlling Marketing Plan The effectiveness of marketing plan can be controlled, evaluated, and monitored via various quantifiable elements within the market scenario. Despite the fact that such quantifiable elements differ from one product to another and from one firm to another, there are those that are universally applied in achieving the objective. The following discussion identifies some of the quantifiable elements that can be used in monitoring, evaluating, and controlling the effectiveness of marketing plan. Market Share: There is need for one to study the market share of the compare before the introduction of Apple Vision as well as after the introduction of the product. Market share measures the number of customers that buy and use a particular product. In this case, the number of consumers of Apple Vision will represent the market share of Apple, Inc (Kotler & Keller, 2009). Nonetheless, since Apple Vision is a new product there is a serious need to identify previous market share of Apple, Inc (Kerin, et al., 2009). The figure should be measured against the market share after introduction of Apple Vision. If there is a positive change in the market share as portrayed by the two figures then there is enough evidence to believe that Apple Vision has attracted more customers into the business. Therefore, this is one of the quantifiable elements that can be used in measuring, evaluating, controlling, and monitoring whether the marketing plan is effective. Revenue: Another quantifiable method of measuring, evaluating, monitoring, and controlling the effectiveness of the marketing plan is through revenue. ... Item 2011 2012 2013 Total Revenue 365,000 435,000 432,100 922,100 Profit margin 25% 91,250 108,750 108,025 230,000 Costs Advertising 50,000 50,000 50,000 150,000 Promotion 10,000 10,000 10,000 30,000 PR 20,000 20,000 20,000 20,000 Personal selling Total 80,000 80,000 80,000 200,000 Quantifiable Elements for Evaluating, Monitoring, and Controlling Marketing Plan The effectiveness of marketing plan can be controlled, evaluated, and monitored via various quantifiable elements within the market scenario. Despite the fact that such quantifiable elements differ from one product to another and from one firm to another, there are those that are universally applied in achieving the objective. The following discussion identifies some of the quantifiable elements that can be used in monitoring, evaluating, and controlling the effectiveness of marketing plan. Market Share: There is need for one to study the market share of the compare before the introduction of Apple Vision as well as after the introduction of the product. Market share measures the number of customers that buy and use a particular product. In this case, the number of consumers of Apple Vision will represent the market share of Apple, Inc (Kotler & Keller, 2009). Nonetheless, since Apple Vision is a new product there is a serious need to identify previous market share of Apple, Inc (Kerin, et al., 2009). The figure should be measured against the market share after introduction of Apple Vision. If there is a positive change in the market share as portrayed by the two figures then there is enough evidence to believe that Apple Vision has attracted more customers into the business. Therefore, this is one of the quantifiable elements that can be used in measuring, evaluating,