Marketing strategy implementation and control
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This document discusses the importance of effectively implementing marketing plans. It notes that the success of any marketing plan relies on how well it is implemented and managed. A marketing plan indicates objectives, strategies, and tactics for accomplishing planned activities and serves as a guide for implementation and control. The document outlines the annual marketing planning cycle of strategic planning, implementation, and evaluation. It emphasizes that people tasked with implementing the plan must have strong communication, teamwork, and motivational skills. Periodic reviews of key performance indicators are needed to identify any gaps between the plan and actual results for making necessary adjustments.
Marketing strategy implementation and control
- 2. 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. Annual Marketing Plan If deviations are found make adjustments Marketing Strategy Evaluation Collect actual data and compares with planned Implementation
- 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. 1. Most important element in putting a plan to action is the people who implement the plan Good planners and 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. 2. Further 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 What is expected from individuals and teams should be explained well 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 my 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