Company G: Marketing Implementation

Product Action Plan

Tactic Due Date Responsible Party
Investment in research and development Production period R&D research team
Create differentiated products Production period R&D research team
Green packaging Production period Marketers

 

Price Action Plan

Tactic Due Date Responsible Party
Carrying out a market research Before product is introduced in the market The marketing team
Offering discounts The entire product life cycle The marketing team
Carrying out a market Research The entire product life cycle The marketing team

 

Place Action Plan

Tactic Due Date Responsible Party
Establishment in a city Before product is introduced in the market The marketing team
Management of inventory The entire product life cycle Inventory managers
Expanding to new locations In two years The marketing team

 

Promotion Action Plan

Tactic Due Date Responsible Party
Increasing advertising In one year The marketing team
Engaging in public relations The entire product life cycle Public relations team
Engaging in sales promotions The entire product life cycle The marketing team

 

Monitoring Procedures

            The company will monitor the progress it has made towards the achievement of its goals by examining actual results against the expected outcomes. Ability to meet or exceed the expected results will communicate the message that the company is performing is realizing its goals. On the contrary, the firm will need to revise its strategies in the event that that current ones are not sufficient enough for it to achieve its objectives. Assessing the performance of the strategies must be done on a regular basis considering the modern dynamic world (Pride & Ferrell, 2014). This will enable the firm to make any changes whenever necessary to sustain its edge. Market research is also important. It is critical for marketing managers at the firm to engage in market research to determine on whether current strategies can be relied upon considering the current market situation. The management also needs to engage in internal research to determine whether its employees are encountering any challenges implementing its strategies and tactics.

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