Implementation is the stage in the strategic market planning process in which an action program is designed to meet the strategic objective(s) using the available resources and given the existing constraints.
The action program is intended to be both a translation of a strategic plan into operational terms as well as a means by which the strategic performance may be monitored and controlled. The action plan has three major components:
- specific tasks—what will be done including the specification of the marketing mix to be employed
- time horizon—when it will be done
- resource allocation and budgeting—attaching dollar figures to each income- and expense-related activity and allocating capital funds
- ^ American Marketing Association, AMA Dictionary.