CHAPTER V. MARKETING IMPLEMENTATION (ACTION PLAN)

The successful implementation of marketing strategies is also subject to the proper allocation of financial resources for each marketing action. 

The allocation of financial resources to the marketing activities should be guided by financial analysis.  There exist a variety of financial analysis techniques available to evaluate your marketing activities. 

The most frequently used technique is cost-benefit analysis. 

Cost-benefit analysis of your marketing activities can be an effective tool to estimate the feasibility of your action plan.  By assessing the costs and benefits of all marketing activities, you may be able to find whether the implementation of each marketing activity is worthwhile. 

This analysis may also serve as an important criterion for determining the effectiveness of your marketing actions.  This will help you to successfully perform the tasks as planned. 

Please list all the marketing tasks that should be carried out according to the plan.   

Try to estimate the costs (expenses) of each activity.  You may also want to assess benefits that may accrue as a result of each activity.  Add up all the benefits, and subtract the costs associated with it to determine the actual costs for each of the tasks. 

Please note that both costs and benefits may include something that cannot be easily converted into financial values.  That is, each marketing activity may provide benefits which are not directly measurable in terms of dollars. 

In that case, you can indirectly estimate the values.  For example, there may be a certain amount of money that you have to pay (or would be willing to pay) in order to receive the same kind of benefits. 

You can take that amount of money as a rough estimator of the intangible values.  This will allow you to measure the effectiveness of your marketing activities in a more objective manner.

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