Implementation . The implementation process involves placing the product or service you develop on the market for consumption, using the distribution plan you created based on the target market you’re trying to reach.
THREE PHASES OF STRATEGIC MARKETING PROCESS Planning Phase. Implementation Phase . Evaluation or Control Phase.
The evaluation phase of the strategic marketing process involves comparing results with the planned targets to identify deviations and taking actions to correct negative deviations and exploit positive ones.
The marketing process consists of four elements: strategic marketing analysis, marketing -mix planning, marketing implementation, and marketing control.
The steps of the strategic marketing process (mission, situation analysis, marketing plan, marketing mix, and implementation and control) are different than the process for a specific marketing effort.
Strategic marketing is a method through which an organisation differentiates itself from its competition by focusing on its strengths to provide better service and value to its customers.
Marketing strategy helps in discovering the areas affected by organizational growth and thereby helps in creating an organizational plan to cater to the customer needs. It helps in fixing the right price for organization’s goods and services based on information collected by market research.
Here are 10 steps to developing a strategic marketing plan : Set goals and objectives. Before you create a marketing plan , you must have a purpose for it. Analyze your situation. Map your messages. Live out your mission. Outline your tactics. Make a timeline. Mind your budget. Divide and conquer.
Drucker (1955, 2007). Implementation of the marketing concept [in the 1990’s] requires attention to three basic elements of the marketing concept . These are: customer orientation; an organization to implement a customer orientation; long-range customer and societal welfare.
Most plans fail because of poor communication between the management and their teams. Many companies are challenged with the ability to communicate their strategy across the organisation. In fact, 95% of employees do not even understand their organisation’s strategy or its objectives.
Strategic marketing planning allows companies to go through the process of identifying what these differences are, and then adjusting marketing messages and presentation of the company and the products and services of the business to meet the individual needs of the different segments of the market.” ( Lorette, 2014)
The 5 Steps of the Strategic Planning Process Determine your strategic position. Prioritize your objectives. Develop a strategic plan . Execute and manage your plan . Review and revise the plan .
Here are 3 levels of relationship marketing examples , based on where the customer is in their journey: Level 1: Customizing to the customer. Level 2: Rewarding customer loyalty. Level 3: Connecting with high value customers on a personal level.
What is a Marketing Process ? A marketing process is: “A series of steps that allow organizations to identify customer problems, analyze market opportunities, and create marketing materials to reach the desired audience.”