Role of Strategic Planning and Implementation Marketing Essay
: Assess your current business strategy and business environment. Before you can define where you are going, you must first define where you are. Understanding the external environment, including market trends and competitive landscape, is crucial in the initial assessment phase of strategic planning. Formal strategic planning is a clearly formulated process consisting of the following elements: goal identification, strategy formulation and its evaluation. Armstrong, 1982, Steiner, 1979: Build a timeline, assign responsibilities, and allocate resources. Once goals and expectations are established, companies should create a timeline detailing each phase of their marketing implementation plan. This will help keep teams organized and focused on achieving their objectives.1. Basic model. The basic strategic planning model is ideal for establishing your company's vision, mission, business objectives and values. This model will help you outline the specific steps you need to take to achieve your goals, monitor progress to keep everyone on track, and address issues as they arise. consumer-oriented target group of the market, and the extent to which the group needs or. would. Although strategy implementation occupies a crucial space between strategic planning and performance outcomes, its scientific appeal is overshadowed by the formulation aspect of strategy. Although researchers have proposed abundant theories and techniques on how to plan effectively, they have devoted less to them. Coca-Cola's values include leadership, collaboration, integrity, responsibility, passion, diversity and quality. Mission, vision and values, 2016. The values remain rather unclear, even though the company has provided a brief explanation. Only two values are consistent with the stated ethical principle. These values are leadership, 1. Planning. Planning is the first phase of the strategic marketing process. This phase is the most important because it lays the foundation for the following phases. Identification and assessment are central here. Objectives, merits and deficiencies are identified while assets and liabilities are assessed. In the strategy implementation process. 1. Manage tension. Making tough choices isn't easy, and you must deal with the tension that comes with change. When implementing strategies, there is often a tension between innovating to grow your business and controlling internal processes and procedures. An effective leadership strategy is necessary to successfully formulate and implement the strategy. This article discusses the importance of strategic leadership in supporting strategic leadership success.