13. Implementing and Monitoring Marketing Strategy

Question 1

Once the strategy has been devised, it can be implemented. However marketing is a dynamic process - what does this mean and how is it dealt with.

Answer 1

• The strategy needs to be kept under constant review to check that it is working as intended.
• The company should be open to making changes to the strategy or even the objectives.
• Ultimately, the decision may have to be taken to abandon the marketing process and withdraw a product from sale if it is considered that the objectives will never be met.

Question 2

How to measure the success of a marketing strategy.

Answer 2

• Targets - This could be as simple as looking at sales figures, profits or the number of hits on a website.
• More complex goals require research (‘marketing research’ to distinguish from ‘market research’) to understand how consumers are reacting to the strategy.

Question 3

How is ‘marketing research’ carried out

Answer 3

• Ask consumers directly for feedback, either individually or through a focus group.
• If one of the objectives of the marketing strategy is to improve the brand image, consumers could be asked how they perceive this to see if there has been any improvement.
• Complex processes include eye-tracking to analyse how consumers look at websites, store layouts and adverts, and viral marketing research, which estimates the probability that specific communications will be transmitted throughout an individual’s social network.