MKTG 2P52 Lecture Notes - Tim Hortons, Relationship Marketing, Marketing Mix
21 Nov 2013
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Document Summary
Marketing planning: the basis for strategy and tactics. Planning: anticipating future and conditions and determining the best way to achieve organizational objectives. Marketing planning: implementing planning activities devoted to achieving marketing objectives. Many planning activities take place over the internet with virtual conferences. An important trent in marketing planning centers on relationship marketing. Adopting courses of action that will achieve these objectives. Guides the implementation of activities specified in the strategic plan. Mission: essential purpose that differentiates one company from another. Objectives (goals): guide the development of marketing objectives and plans. Generate 12 percent more profit next year. Add 15 new outlets within the next year. Marketing strategy: selecting and satisfying target consumers through the marketing mix elements. The final steps of the planning process: Monitor performance to ensure that objectives are achieved. First mover strategy: the company first to offer a product in a marketplace will be the long-term market winner.
