Implement, Monitor and Control

Definition: 

• Implement (put into action), 

• Monitor (oversee results of strategy by obtaining and interpreting data and comparing projected vs actual results) and 

• Control (corrective measures - revise elements based upon monitoring activity).

This stage is of vital importance in order to provide feedback to a marketing department regarding their relative success in meeting marketing objectives (KPI) through their selected marketing strategies. Without this stage, marketing departments remain unaware of the results of their marketing activities.

Monitoring and controlling forms the basis of future decision making; data is fed into the subsequent phase of a situational analysis and so on in a continuous cycle.

This universal business process is undertaken in every Key Business Function:

• Operations

• Financial Management

• Human Resources