Marketing Plan Balanced Scorecard

Balanced Scorecard concept was developed by Dr. Kaplan and Dr. Norton and it has been adopted by many organizations as their strategy to improve their business performance. While there are a lot of learning in the Balanced Scorecard topic, there must be a simpler way to use some of its concepts and applied it to your own areas. This article is intended to share how Balanced Scorecard can apply to a marketing plan.

Marketing Plan Balanced Scorecard – The ultimate objective is a Marketing Plan is to meet all projected key performance indicators stated in the plan. A marketing plan consist of marketing objectives, marketing strategies, Business and Environment Analysis and Performance Measurements. The question is how good are these performance measurements? These are interpreted as Key Performance Indicators. The Marketing Plan Balanced Scorecard is something came along when I applied the concept of balanced scorecard in my last 10 years of its application in different industries and business sectors. The understanding of the concept became clearer and the nuisances of the concept has more value and can be extended from its original scope of application. I realized your can expand the scope of application of a balanced scorecard concept in many other aspects including strategic and departmental levels.

When using Marketing Plan Balanced Scorecard, it advocate to apply a balanced approach throughout the plan. The degree of using it determines how sound is the marketing plan. Have you considered the four perspective of the balanced scorecard concepts? How extensive you use the lead and lag indicator concept when you develop your key performance indicators.

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