Accounting MRK108 Lecture Notes - Lecture 3: Competitive Advantage, Direct Marketing, Marketing Effectiveness

• School: Seneca College
• Department: Accounting
• Course: Accounting MRK108
• Professor: Ruggero

Document Summary

Planning process of anticipating future events and determining strategies to achieve organizational objectives in the future. Strategic planning managerial process of creating and maintaining a fit between the o(cid:396)ga(cid:374)izatio(cid:374)"s o(cid:271)je(cid:272)ti(cid:448)es a(cid:374)d (cid:396)esou(cid:396)(cid:272)es a(cid:374)d the evolving market opportunities. Long term profitability and growth, which means long-term commitment of resources. Large business settings, strategic planning is a complex set of activities that take place at three levels: corporate, business unit, marketing. Strategic business unit (sbu) a subgroup of a single business or a collection of related businesses within the larger organization. Should have a distinct mission, specific target market, control over resources, its own competitor and plans independent of othe(cid:396) bu"s. Business level planning = deal with competitive advantage. Strategic decision a decision that is wider in scope and long term in its orientation. Tactical decision is narrower in scope and its short term. Missio(cid:374) state(cid:373)e(cid:374)t: a(cid:374)s(cid:449)e(cid:396) the (cid:395)uestio(cid:374) (cid:862)what (cid:271)usi(cid:374)ess a(cid:396)e (cid:449)e i(cid:374)? (cid:863)