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Lecture

Marketing - Ch 2.docx

7 Pages
72 Views

Department
Business
Course Code
BU352
Professor
Shelley Mc Gill

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Description
Chapter 2 Developing Marketing Strategies Levels of Strategic Planning in CorporationsStrategic planning occurs on at least 2 levels Corporate level and functional levelCorporate Level Planning o Companys top management o Overall direction of the entire company o Business of the company companys missionvision statement set objectivesgoals o Long term directions updated to respond to changes in the business environmentFunctional Planning o Functions take some form of planning HR marketing RD finance o Annual plans 35 yearsStrategic Business Units Planning for companies with different business lines o Develop plans for products and markets that they serve o Division of company managed somewhat separately than other business units o Ex Disney has 4 business units media networks parks studio entertainment consumer productsLevels of Strategic PlanningLevels of Planning Scope Duration Strategic Focus Corporate Planning Entire Firm Long term 5 years Define the companys mission Set companys goals Establish business portfolio Strategic Business Single SBU within Medium to Long term Set goals and Unit SBUDivision firm3 to 5 years establish portfolio of Planningproducts and markets applies only to large for the business unit firms with more than one distinct line of business Functional Planning Product Portfolio Short term to Medium Develop marketing Ex Marketing single product brand term 1 to 3 years plans for specific planning or market products brands or marketsThe Strategic Marketing Planning Process Strategic Marketing Planning Process A set of steps a marketer goes through to develop a strategic marketing plan Marketing Plan includes o Analysis of the current marketing situation o Opportunities and threats for a firm o Marketing objectives and strategy specified 4 ps o Actions programs o Projected proforma income
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