Abstract
<p>Marketing Strategy Implementation (MSI) is responsible for delivering the value proposition to the customers. MSI can be seen as (1) dichotomous with marketing strategy formulation; or as (2) a mutually interdependent process along with marketing strategy formulation; or as (3) a program. Aspects postulated to be important during the implementation process include (a) presence of good leadership; (b) careful attention to the formative years of MSI program; (c) presence of trust in all important relationships; (d) system of early warning / feedback; (e) achieving functionalities in the marketing process; (f) a fetish for execution; (g) hype about rewards and incentives; and (h) choice of market vs. hierarchy. The study first addresses the placement of MSI in the strategic marketing process and the strategic organizational process, secondly examines the nature of marketing execution, and thirdly puts forth some postulates for marketing strategy implementation. These postulates are subsequently empirically checked in the market and implications for managers are subsequently laid out.</p>
Highlights
Marketing Strategy Implementation (MSI) is a key process in the strategic marketing process of the organization
Good strategy followed by good implementation leads to success, while poor strategy followed by poor implementation leads to failure
Marketing Strategy Implementation is seen by the marketing managers in charge of execution as a process as well as a program
Summary
Marketing Strategy Implementation (MSI) is a key process in the strategic marketing process of the organization. Some of the common issues that came out of the surveys as important issues to be addressed were – ensuring product and service quality, assessing changing customers’ needs, creating a marketing culture throughout the firm These preceding issues are to be addressed from an implementation angle rather than from a strategy formulation angle. Thomas Bonoma of Harvard Business School proposed a framework for understanding marketing implementation issues (Bonoma, 1984) He postulated that execution could take place at any or a combination of four levels – actions, programs, systems and policies. Policies shape the organizational marketing theme, culture and leadership and give direction to the systems, programs and actions of a firm. Further four managerial skills that can reinforce good policies, systems, programs and actions, are interaction skills, allocation skills, monitoring skills, and organizing skills. Implementation skills are always important, but the required mix of skills may vary from one organization to another just as the appropriate mix will vary within an organization from one execution level to another (Quelch, 1992)
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