The Secret to Success: Creating Value (Part 3)

The G-STIC Framework (cont.)

T – Designing the Tactics

Tactics are the set of activities that are used to execute a specific strategy. These tactics are defined by seven elements, commonly referred to as the marketing mix. These are the key decisions that build on the marketing strategy.

Product: It’s key functional characteristics. Implies transfer of ownership.

Service: Also reflects functional characteristics, but does not transfer ownership. Services are inseparable from service providers. 

Brand: Create a unique set of associations that enhances the product/service value beyond simply the functional benefits.

Price: The amount of money the business charges for the product/service

Incentives: Tools used to enhance the value for customers, collaborators, and/or employees. Can be monetary or non-monetary.

Communication: Informs current and potential clients about the offering. Can include elements from the other six marketing mix variables.

Distribution: The channels by which the client receives the offering.

I – Defining the Implementation Plan

Implementation is the logistics of executing the offerings strategy and tactics. There are three main components.

Business Infrastructure: Refers to the organizational structure. Involves identifying the business unit in charge of the offering, and identifying key personnel and collaborators.

Business Processes: Depict the activities involved in designing and managing the offering (flow of information, goods, and money).

Implementation Schedule: Identifies the sequence and time frame for tasks to be performed.

C – Identifying Controls

Controls serve two functions: to evaluate a business’s progress toward its goals and to analyze the changes in the business’s environment.

Performance Evaluation: Monitors the business’s progress toward reaching goals and maximizing performance.  

Environmental Analysis: Monitors the environment to be sure that the action plan remains optimal.

Conclusion

A visual representation of the G-STIC framework as described in the action plans that we’ve presented in the previous two posts can be seen below.

 Figure 1: The G-STIC Action Planning Pyramid

Because the purpose of any marketing plan is to guide the business’s actions, this framework is the most important component that will determine the viability of the marketing plan.