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An integrated approach to marketing strategy formulation and implementation

Akroush, Mamoun Nadim Awwad (2003) An integrated approach to marketing strategy formulation and implementation. Doctoral thesis, University of Huddersfield.

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    Abstract

    The overall aim of the thesis was to address the issues involved in marketing strategy
    formulation, implementation and company performance by developing a framework for the
    marketing of insurance services in Jordan. In order to achieve this aim the research developed a
    comprehensive framework involving three parts; marketing strategy formulation components,
    marketing strategy implementation, and company performance. The research population included
    all the insurance companies that were operating in the Jordanian market. The research design was
    mainly quantitative with some qualitative data included to support and expand upon the research
    findings. The research methodology included designing a comprehensive self-completion
    questionnaire, as well as, conducting a number of in-depth interviews with managers in the
    insurance companies in Jordan.

    The most important finding to come out of the research was that marketing strategy formulation
    and implementation are not separate parts, but rather they should be incorporated in one process
    for a company to achieve success in the marketplace. The classic framework of marketing
    strategy, which is concerned with the traditional elements of the marketing mix framework, is
    inadequate for the marketing of insurance services. The marketing strategy components for the
    marketing of insurance services were eight, these are the seven Ps of the services marketing mix
    framework, and service quality. These elements were found to have a positive and significant
    effect on the insurance companies' performance measured by financial and non-financial
    (marketplace and customer) criteria. The effect of the marketing strategy components was found
    to have varied according to the insurance companies' performance criteria measured by financial
    and, non-financial (marketplace and customer based) criteria.

    The marketing strategy implementation variables were found to have affected the relationships
    between the marketing strategy components and the insurance companies' performance measured
    by financial and non-financial (marketplace and customer based) criteria. Generally speaking, the
    effect of marketing strategy implementation variables on the relationships between the marketing
    strategy components and the insurance companies performance measured by customer based
    measures was found to be greater than their effect on the relationships between the marketing
    strategy components and the insurance companies performance measured by financial and
    marketplace performance criteria.

    Company marketing assets and capabilities, and company marketing experience were found to be
    the master variables of marketing strategy implementation that moderated the relationships
    between the marketing strategy components and the insurance companies performance, measured
    by financial and non-financial (marketplace and customer based) criteria. This is evidenced when
    these two variables have systematically changed all the relationships between the marketing
    strategy components and the insurance companies' performance. Marketing strategy consensus,
    marketing strategy resource commitment, marketing strategy cross-functional integration,
    marketing strategy communication activities quality were found to have a higher effect on the
    relationships between the marketing strategy components and the insurance companies
    performance measured by customer based criteria, rather than the relationships between the
    marketing strategy components and the insurance companies performance measured by financial
    and marketplace performance criteria. The research found that the marketing strategy
    implementation variables hold strategic implications for the insurance companies' performance
    because they affect their performance especially those criteria that deal with the customers e. g.,
    customer satisfaction. The rationale is that the marketing strategy implementation variables are
    concerned with activities that are dealing with the customer on a daily basis.

    Item Type: Thesis (Doctoral)
    Additional Information: EThOS Persistent ID uk.bl.ethos.270411
    Uncontrolled Keywords: Company performance, Management, International trade Architecture
    Subjects: H Social Sciences > HF Commerce
    Schools: The Business School
    Depositing User: Graham Stone
    Date Deposited: 12 Jun 2009 14:10
    Last Modified: 28 Jul 2010 19:38
    URI: http://eprints.hud.ac.uk/id/eprint/4708

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