Please help! Could you please assist me with the Evaluation And Control (segment
ID: 378117 • Letter: P
Question
Please help! Could you please assist me with the Evaluation And Control (segment of marketing plan) for Apple Inc?
What I need is a writing which resembles the format of the image below for both parts (A) and (B). This must be an Evaluation and Control for all of Apples products as a whole, so you can be very general in your writing.
Thank you for your time and help, I truly appreciate it!
VII. EVALUATION AND CONTROL A. Performance Standards and Financial Control The importance of this new line extension to FreeRiders' success as well as the current finan cial state of the company leave little room for overages and delays. It is necessary department to carefully monitor and report expenditures to the Marketing Manager in an ac- curate and timely manner. The Marketing Manager will report directly to the CFO on a week ly basis and is responsible for collecting all financial information from each department in volved in the project. Due to the quick turn around time on this project, the Marketing Man ager must report to the CFO all overages-real or anticipated-as soon as they come up. Addi tional spending may only be authorized by the CFO for each Each department will be given a budget to research, design, test, market, pre-sell and de- liver the new product. The total budget for the project will be $300,000 with a 10% contin- gency. Overhead, including salaried labor, are not included in this budget. The budget breaks down as follows R&D;/Marketing: $33,000 Includes street research, consultants and pre-sales to retail. R&D;/Design: $40,000. Includes design, prototypes, patent registration, materials, safety testing and revi Sions. Legal & Professional Fees: $20,000 Promotion: $27,000 Includes street teams, PR events and contests, advertising and educational materials for resale partners. Manufacturing demo models: S180,000 Includes the manufacture and delivery of 600 demo models. Fifty percent of the project will be funded through a short-term equity loan against the company's current assets. It is anticipated that revenue from pre-sales will allow the company to pay off this loan within the first payment period. The remaining cost for the introduction of this new product will be distributed over a five-month period. B. Monitoring Procedures To assess the effectiveness of this new product launch, a careful analysis of the company's performance versus the marketing plan objectives will be conducted throughout the develop- ment stages of the project and one month after the projected product release date. Additional monitoring procedures will be put in place to assess the success of the new product as well as identify product extensions within the category. Finally, the company will conduct an audit of all its products and activities every fiscal quarter to ensure adherence to the short-term prod uct goals outlined in this marketing plan as well as the five and ten year plans.Explanation / Answer
Apple - Performance Standards and Financial Control
While developing a product, right from concept to execution, Apple maintains a strict control and follow a stage-gate process to manage the costs during the entire product development process.
There is a marketing budget which is tied back to the balance between the cost of generating the advertising materials and the overall revenue that is expected from the product development plan.
There are multiple controls in place that are used to monitor and control the product development budget.
Monitoring Procedures
There are multiple procedures to manage the successful launch of the product and how the product development goes through the marketing plan and how they control the costs throughout the process. There are strict long term view of the product development and how to manage the overall costs within the product development stages.