Question

Subject : Marketing Strategy

Title : Petronas

1. Discuss Petronas Marketing strategy implementation and control. (800 - 1000 words)

Instruction Below

a) Outline how the company implements the marketing strategies that you have developed. (Note: Any 1 point each on when to implement, how long to implement and what actions to take.)

b) Outline how the company controls the implementation to ensure proper assessment of the marketing strategies and to make necessary changes and adjustments for future. (Note: Any 1 point each on how to monitor progress, review implementation results and spot problems in the current and future implementation.)

Answer 1

Petronas's marketing strategy implementation involves planning the optimal timing, setting a strategic duration, and taking decisive actions such as digital marketing and CSR initiatives. Control mechanisms include monitoring KPIs, reviewing results against forecasts, and employing tools and feedback loops to identify issues.

Step-by-step explanation:

Marketing Strategy Implementation and Control for Petronas

Discussing Petronas's marketing strategy implementation involves looking at the point of action which is critical for the strategy's success. An example of when to implement may be aligning with a global event relevant to the energy sector, taking advantage of heightened awareness around sustainability issues. The duration of implementation could span several months to ensure thorough market penetration and reinforcement of key messages. As for the actions taken, Petronas may deploy a mix of digital marketing, corporate social responsibility initiatives, and strategic partnerships.

Control is essential to ensure the effectiveness of the marketing strategy. This can be achieved by monitoring progress through regularly scheduled reports that measure key performance indicators (KPIs). It is also vital to review implementation results by comparing actual performance against the forecasted outcomes and analyzing discrepancies. Lastly, Petronas should establish mechanisms to spot problems during the current and future implementations, which could include customer feedback loops or market trend analysis tools.