Planning good strategies is only a start towards successful marketing.
A brilliant marketing strategy counts for little if the company fails to implement it properly. Marketing implementation is the process that turns marketing actions to accomplish strategic marketing objectives. Many Entrepreneurs thinks that “doing things right” is as important as “doing the right things”.
Notwithstanding the fact, both are critical to success and organizations/companies/businesses can gain competitive advantages through effective implementation. One firm can essentially have the same strategy as another, yet win in the industry through better execution.
In an increasingly connected world where technology has evolved as a result of globalization, It is important that Entrepreneurs design marketing systems that are capable of working together to plan and implement marketing strategies. Upon enforcing these systems, it is of paramount importance that constant marketing control is practiced. This is so as many surprises tend to occur during the implementation phase of marketing plans. The control process involves; setting marketing goals, measuring performance within the market, evaluating the causes of any differences in results and taking corrective action so as to close any gaps between goals and performances.
The fact that marketing strategies can become outdated overtime, it is therefore important that they are assessed periodically so as to ensure that the organization/company achieves the sales, profits and other goals set out in its marketing plan. The marketing plan that is being referred to in this case is a detailed document outlining how the company intends to create value for its target customers in order to capture value in return. The plan contains different sections, with each serving a different purpose. In the first section, the target market and the company`s position within the market is described.
The second section assesses major threats and opportunities that the company might face which helps the management team to anticipate and mitigate negative impacts on the company`s strategies.
Thirdly, the marketing plan lays out an action program for implementing the marketing strategy along with a supporting marketing budget.
The last section of the plan outlines the controls that will be used to monitor progress, measure return on marketing investment and take corrective actions.
It should be noted that though implementation of strategies is an important feature of the marketing process, Entrepreneurs usually find it difficult. This is so as it is easier to think of marketing strategies than it is to carry them out. Hence the importance of developing a proper marketing system that will help to plan and implement the respective strategies.
Did you find this marketing blog post helpful?
If so, please consider sharing it, tag us and let us know your biggest takeaways.
All Rights Reserved l Clayton's Marketing Consultancy Services
All Rights Reserved | Clayton's Marketing Consultancy Services