While correct implementation of a badly formulated strategy will be efficient, but not effective. Philip kotlers contributions to the field of marketing philip kotler s status as a major thought leader in marketing is widely recognized. Strategy, implementation, and execution are three coincident determinants of a company or business units ultimate output its results that are very difficult to parse into their. Marketing implementation involves putting the marketing design, execution and scheduling into development.
That is a situation which involves a firm establishing manufacturing facilities overseas and coordinating marketing strategies across the globe. Factors affecting effective strategy implementation in a service industry. The outcomes of market ing implementation including sales and revenues determine not only the ultimate worth of marketing strategies. Creating a strategic marketing plan this marketing plan template is designed to facilitate analysis, planning and communication of your strategic marketing and communications plan. Marketing strategy implementation managing channel conflict. The study reveals that marketing mangers commitment towards strategy implementation has a significant positive impact on organizational. Describe the strategic planning process and swot analysis. As white, conant and echambadi 2003 observed, marketing strategy implementation msi capability perfe ctly mediates the relationship between market ing. According to a study at university of nottingham, the recent financial and economic crisis has had a colossal impact on reducing the public trust to financial services that even after 7 years, great amount. Factors affecting effective strategy implementation in a. Wright, david cracknell, leonard mutesasira and rob hudson microsave marketled solutions for financial services 3 selling. The role of internal marketing in the implementation of marketing. Implementation phase of the strategic marketing process. A marketing strategy that is well articulated will enable one to focus on marketing activities to achieve the organisational goal.
Essential steps to a successful strategy implementation. Philip kotlers contributions to the field of marketing philip kotler s status as a major thought leader in marketing. Strategic implementation is a process that puts plans and strategies into action to reach goals. Dynamic strategy implementation focuses on translating leaders strategic ambition into downstream implementation.
Despite is shows challenges that can occur during the process and eventually how to solve them. We keep hearing news stories and anecdotes about this successful business or that entrepreneur who hit the big time with his. Essential steps to a successful strategy implementation process. Although this is the first section in a marketing plan.
Factors of effective strategy implementation econstor. Marketing programs and processes where a variety of stakeholders will be involved in needs to be guided by a marketing strategy plan so there will be a smooth flow of the implementation. Since the case company is in its first year of business as a startup company. Marketing strategy implementation matrix marketing group. Strategy implementation is also defined as the manner in which an organization should develop, utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to.
Strategic planning and strategy implementation, annual planning and control and. Stages, steps and activities page 6 planning for change change is complex and dynamic. It involves the design and management of systems to achieve the best integration of people, structure, processes and resources in achieving organizational objectives. The marketing programme the strategic marketing process, actions and information3 actions of the marketing implementation plan control of the results achieved plan result past, current and future. Pdf marketing plan and implementation of the lloyds bank. A marketing plan can lead to the successful operations and implementation of a businesss marketing activities. Monitoring and evaluationthe results of implementation. Although it does not provide detailed information, it does present an overview of the plan so readers can identify key issues pertaining to their roles in the planning and implementation processes. A marketing strategy plan, like quality management plan examples, ensures that the company adheres to the standards that are set in relation to the activities that it will execute.
Effectiveness of strategy implementation is, at least in part, affected by the quality of people involved in the process govindarajan, 1989. Once the creative and analytical aspects of strategy. It depends on how marketing people translate the strategy into action. Pdf marketing strategy implementation success factors. Strategic marketing for microfinance institutions graham a. Marketing programs and processes where a variety of stakeholders will be involved in needs to be guided by a marketing strategy plan so there will be a smooth flow of the implementation of call to actions. Being aware of the definition of a marketing plan and its purpose can convince you that it is truly necessary for your business to create the specified document. Pdf a good marketing strategy does not always necessarily lead to successful marketing performance in an organization. Planning, implementing, and controlling marketing strategies. Strategy implementation is a connecting loop between formulation and control.
A well formulated, but badly implemented strategy, will be effective do the right things, but not efficient do things right. As rafiq and ahmed 1993 have stated, the goal of im during the strategy implementation. Reviewing the marketing strategy implementation issue in an era of a weaker marketing paradigm. Effective strategy implementation journal of advanced. Marketing implementation is the process of executing the marketing strategy by creating specific actions that will ensure that the marketing objectives are achieved. Strategic planning marketing strategy marketing plan the analysis of meeting target market s needs written documentation concerning implementation and control.
Market implementation plan based on the selection of the market implementation methods, an implementation plan is developed to define and execute the demandside programs. Understand grand strategies for domestic and international operations define corporatelevel strategies. They participated in extensive interviews and provided documentation from their own strategic. Strategy implementation is an iterative process of implementing strategies, policies, programs and action plans that allows a firm to utilize its resources to take advantage of opportunities in the competitive environment harrington, 2006. Strategy provides a clear understanding of purpose, objectives and standards of performance to employees at all levels and in all functional areas. Marketing implementation, the process of translating strategic intent into actions and accomplishing objectives, appears to concern practitioners at least as much as strate gic planning hrebiniak 1990. Strategy, implementation and practice provides comprehensive, practical guidance on how companies can get the most out of digital media and technology to meet their marketing goals. Here, quality refers to skills, attitudes, capabilities, experiences and. The importance of rapid, competent marketing execution in marketing programs, driven by the marketing executive s knowledge of the process of this execution is critical of a successful marketing plan implementation. As rafiq and ahmed 1993 have stated, the goal of im during the strategy implementation process is to overcome resistance. Strategy implementation is the process through which a chosen strategy is put into action. Effective strategy implementation is the topic of this paper, therefore the paper is concerned with the composition of successful implementation and what needs to be considered. Marketing plan implementation guide matrix marketing group.
An evaluation of marketing strategies undertaken by coca. It involves moving or transforming from something familiar to something. The role of marketing managers commitment and involvement in. Being aware of the definition of a marketing plan and its purpose can convince you that it is.
Reference 4 suggested changing strategies or implementation tactics as the external environment e. John roberts, alvin silk, glen urban volume editor, and jerry wind. An emerging area in the field of strategy implementation is internal. It is doubtful if a marketing strategy can be implemented where this orientation does not exist. It is the second step in the marketing process and involves the entire organization. Bradley 1991 the strategic marketing process, therefore implies deciding the marketing strategy based on a set of objectives, target market segments, positioning and policies walker, boyd, larreche 1992 the primary purpose of a marketing strategy is to effectively allocate and coordinate marketing resources and activities to.
Marketing strategy implementation requires a purposeful tactical marketing plan aligned with the core business growth strategies. Achieving such a view is dependent on the quality of the. While correct implementation of a badly formulated strategy. Marketing strategy implementation wiley online library. The implications of marketing paradigm weakness for the strategy execution process article pdf available in journal of the academy of marketing science 263. A handbook for implementation lviil acknowledgements i want to thank the following people and organizations who contributed to this handbook by agreeing to participate in our research. One of the things that makes chief outsiders unique among strategic marketing. Transfort marketing plan 1 the purpose of a strategic marketing plan is to develop longrange marketing goals and implementation strategies to as sist a brand with retaining and attracting customers.
202 810 68 94 209 298 367 917 161 199 134 940 745 108 987 528 1494 467 854 405 1015 1579 203 765 455 1147 1120 1302 266 1540 589 639 723 940 1216 331 824 1410 745 1318