Marketing strategy implementation and control
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The document discusses the importance of effective implementation and management of marketing plans. It states that the success of any marketing plan relies on how well it is executed. A marketing plan provides objectives, strategies, and tactics to guide implementation. It also emphasizes that implementation requires the right people who can motivate teams, communicate effectively, and focus on targets. Periodic evaluations of key performance indicators are also needed to identify any deviations from plans and make necessary adjustments that allow goals to still be achieved.
Marketing strategy implementation and control
- 2. The Good Strategy( winning plan) plus Good Execution = Good Management The success of any marketing plan will rests on how well it is implemented and managed Marketing plan itself is a guide to implementation and control Marketing Plan indicates objectives, strategies and tactics for accomplishing the activities planned It is a continuous cyclical activity in a formal company
- 3. Marketing Strategy Annual Marketing Plan Implementation Evaluation Collect actual data and compares with planned If deviations are found make adjustments
- 4. Strategic planning goes beyond one year and therefore one year plans are considered as short term plans Although a company needs beyond one year plans to set their strategic vision and activities, in a dynamic market place planning for longer term needs lot of care and proper forecasting
- 5. The larger companies with different bureaucratic layers faces major challenges in implementing marketing plans. Good implementation process shows proper action plans with listed activities, who is responsible, time and allocation of budgets etc. A Gnat Chart could be used in this regard
- 6. Most important element in putting a plan to action is the people who implement the plan Good planners may not be good implementers. Implementers need to have: Inter personnel skills/ emotional intelligence/ability to get support of all the members towards the implementation Good communication skills Focus on the targets Firm determination to achieve targets Ability to be flexible Motivate others Develop Team work
- 7. Following factors also are important putting a plan into action Organisational design Incentives Corporate Culture Integration of marketing orientation within the organisation Efficiency of external support services ( such as research firms, advertising and consultancy firms)
- 8. The plan has to be made public among the staff Targets and end results should be emphasised What is their for all individuals must be communicated (MMT- Mata Monawada Tiyenne) What is expected from individuals and teams should be explained well (ODK-Oben Dayakathwaya Kumakkda) Importance of everyone's commitment should be emphasized
- 9. Periodical Key performance indicators should be established as to important elements of the marketing plan E.g. Sales Product Development Distribution outlets Promotion Recruitment Expenses Customer satisfaction level/Complaints
- 10. The systems should be developed to get actual information in time –( IT base system could be used ) Internal Information Standardised External information such as TV rating data Special research data Information from firms Strategic Intelligence
- 11. Information could relate to The actual performances ( such as sales) Buyers response Channel response Competitor information Complaints from members of the staff Suggestions
- 12. Evaluation Information gathered should be processed It should be compared with the plan Information taken to prepare the plan may be incorrect Planned sales or activities may have not achieved Then the gaps should be identified
- 13. Gaps or variability cannot be avoided The issue is that these variations will make a substantial change to achieving expected results or not Can the remedial action be taken or not How soon the problems could be fixed Is there a contingency plan to fall back if problems cannot be fixed
- 14. Action could be Changing the target market ( difficult) Changing the positioning ( difficult) Changing tactical tools ( not very difficult) Changing Strategy ( not difficult) Changing the original targets made ( not difficult)
- 15. Any comments send an email to maxran1@yahoo.com Please share this presentation with your Marketing Team Develop it through your own inputs Knowledge is universal, we all learnt from others So “sharing” is the name of the game Good luck- Maxwell Ranasinghe