MKTG1001 Lecture Notes - Lecture 2: Cost Leadership, Swot Analysis, Niche Market

• School: University of Sydney
• Department: Marketing
• Course: MKTG1001
• Professor: Jeaney

Document Summary

Strategy only exists in a particular context - this is why different environments require different strategies. Business planning - an ongoing process of making decisions that guide the company both in the short and long terms this guides the . Marketing plan - a document that describes the: environment, objectives, strategy, staff. The three levels of business planning: top-level management (strategic planning, top functional staff (functional planning, supervisory managers (operational planning) A decision process that develops detailed plans for strategies and tactics to support the marketing plan: perform a situation analysis, set marketing objectives, develop marketing strategies, implement marketing strategies, monitor and control marketing strategies. The process of developing and maintaining a strategic fit between the organisation"s goals and capabilities in the light of changing marketing opportunities. Goals of strategy: short term - to improve profitability and financial position, long term - to improve strength and competitive position.