Marketing Strategy Implementation

Abstract

Abstract Marketing strategy implementation is traditionally considered as the “'doing” stage in the planning process and follows the “dreaming” stage, commonly referred to as strategy formulation. Marketing strategy implementation capability perfectly mediates the relationship between marketing strategy development style and firm performance. Consequently, marketing strategy implementation has become an important theoretical focus for researchers, a key performance indicator for marketing personnel, and a vital precursor to organizational effectiveness. There is overwhelming evidence to indicate that, provided marketing strategy is cogent, effective marketing strategy implementation can deliver performance gains for firms. Effective marketing strategy implementation derives from, among other factors, the appropriate organizational structures and administrative systems; control mechanisms; leadership style; employee incentives; communication efforts; integration and coordination arrangements; and, levels of strategy commitment and consensus. However, despite implementing a marketing strategy at one point in time, awareness needs to be given to the strategy dynamics at work which can significantly affect how optimum the strategy remains over time. A concept that is currently receiving considerably more attention by managers and researchers alike is strategic improvisation, which describes the simultaneous formulation and implementation of a strategy implying a responsiveness and flexibility in planning which is unparalleled.