in terms of time, quality, performance and cost Financial perspective -- financial performance from the stakeholder point of view Each element is tracked using four items which are listed individually: Objectives - as identified in stage 2 of the marketing planning process Measures - how will success be measured? Targets - specific quantifiable targets Initiatives - how to make the targets more readily achievable Key performance indicators ( KPI s) Depending on your industry, you may also have certain specific metrics which determine success, these could include: Market share analysis Sales analysis Quality control Financial results Market research Marketing information systems CRM - New customers acquired, retention Service levels Brand awareness Competitor performance Benchmarking Profitability Gap analysis Gap analysis is another useful tool which answers two questions: Where are you? Where do you want to be? It can be useful to identify where you are with the following facets of the business: Organisation Business direction and marketing mix Business processes Information technology Requirements vs capability Market potential vs existing usage Your business vs competition Feedback Now that you have an accurate picture about the success of your plan it's important to feedback this information in order to fine tune the strategy and update the courses of action accordingly. Final words The marketing planning process is a comprehensive method for examining your business, your market and the environment in order to develop a strategy to exploit opportunities. It is a vital process which should be used by almost every company to