Watch this video, which covers the fundamental aspects of performance evaluation.

As strategic planning and crafting the strategic plan are normally done annually, the evaluation and monitoring of results are normally reviewed quarterly. Therefore, actual results are usually reviewed every three months. Decisions are made at this time depending on the data results, and the decisions can be strategic or tactical. 

Strategic decisions address the current strategy and whether some modifications to the strategic plan may be necessary. Tactical decisions normally involve adjusting the implementation of the marketing mix. For example, a disruption to the supply chain or distribution channels caused by the natural environment, like a tsunami or pandemic, may require a strategic change in the marketing plan. On the other hand, a competitor's price reduction or enhanced promotional campaign may require a shift in resources towards more promotional efforts to counter the competitor's attack.



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Source: Dave Alldredge,


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