Marketing Analysis 8
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marketing_strategy_and_implementation.docxMARKETING STRATEGY AND IMPLEMENTATION
MARKETING STRATEGY AND IMPLEMENTATION 5
MARKETING STRATEGY AND IMPLEMENTATION
Rodney A. Lee Sr.
Grantham University
Marketing Implementation
Marketing implementation refers to the process of outlining the exact steps to be undertaken by the company in order to achieve the laid out marketing strategy (Pride, 2011). The marketing strategy in this case includes a description of the market position that the company hopes to achieve given the prevailing market conditions. For instance, in the case of Starbucks, the prevailing market conditions such as competitive nature of the coffee industry and the changes in taste and preferences of customers have prompted the company to come up with product, pricing, supply chain and communication strategies. These strategies are geared towards improving the market position of Starbucks.
The implementation of a marketing strategy is the most important part of a marketing plan. The achievement of a company’s goals is only possible if marketing strategies are accompanied by proper implementation. In this case, a company may be having a great strategy but if the implementation is poor, then it may not be able to achieve its goals. The purpose of implementation is to ensure that marketing activities happen in a timely and sequential manner so that the company may achieve its goals (Enis, 2013). The table below illustrates marketing activities that may be undertaken in the implementation phase:
|
Activity |
Example |
Impact |
|
a) Differentiating products |
Starbucks has highly differentiated coffee products including espresso coffee, pastries, smoothies and Frappuccino among other beverages |
Product differentiation helps to improve customer satisfaction and hence boosting customer loyalty. |
|
b) Effective product advertising |
Starbucks effectively uses the electronic media and other platforms such as roadshows to advertise its products |
Product advertising leads to growth of the company’s sales revenue |
|
c) Launching an online marketing website |
Starbucks has launched an online website whereby products can be easily delivered to customers in different places around the world. Customers make their orders online and pay for the goods once they are delivered |
Online marketing helps to boost the company’s sales. |
Evaluation and Control
Evaluation is part of a marketing plan that focuses on analyzing the quantitative and qualitative metrics associated with marketing strategy and implementation (Kotler & Armstrong, 2006). The quantitative metrics mainly deal with numerical data. For instance, Starbucks may apply quantitative metrics when analyzing numerical data such as the total number of products supplied to the customers, the total sales revenue in dollars and the number of customers reached during a particular period. The qualitative metrics on the other hand focuses on issues such as customer satisfaction. The purpose of evaluation is to check whether the company achieved its marketing strategy in the implementation phase (Kotler & Armstrong, 2006). In this regard, the steps in the implementation phase may be repeated in future if they contribute to the achievement of the marketing strategy. Otherwise, necessary changes need to be initiated in order to improve the performance and outcome of the implementation phase.
Controls on the other hand are crucial for coordinating and directing company’s resources towards the set goals. Controls help to provide benchmarks that assess how well the marketing plan achieved the company’s goals (Enis, 2013). One important thing to note about controls is the fact that they can be classified as either formal or informal controls. Formal controls include the written and management initiated mechanisms that influence the way in which the employees of a company may behave in their support of the company’s goals (Enis, 2013). In this case, formal controls may come in the form of decision making rules, definition of expectations and evaluation criteria. Informal controls on the other hand do not necessarily require explicit rules that direct the behavior of employees. The informal controls are not documented and the employees are required to infer the appropriate rule in any particular situation without having to follow the explicit rules (Enis, 2013). In this regard, informal controls provide a stylish and comprehensive form of reform in a company.
The implementation schedule and timeline helps in monitoring the progress of the marketing plan. The implementation schedule indicates each step of the marketing plan and an estimate of the time expected to complete it. The managers within the marketing department prepare the implementation schedule and timeline that help to achieve the company’s goals in a timely manner.
References
Enis, B. M. (2013). Marketing principles. Santa Monica, Calif: Goodyear Pub. Co.
Kotler, P., & Armstrong, G. (2006). Principles of marketing. Upper Saddle River, N.J.: Pearson
Prentice Hall.
Pride, W. M. (2011). Marketing principles. South Melbourne, Vic: Cengage Learning.
