ADMS 2200 Lecture Notes - Lecture 2: Critical Role, Bargaining Power, Marketing Strategy

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Kim Snow

Document Summary

Lecture 2 strategic planning in cotemporary marketing. Strategic planning: determining o(cid:396)ga(cid:374)izatio(cid:374)"s p(cid:396)i(cid:373)a(cid:396)y objectives, adopting courses of action that will achieve these objective, provides long-term direction for its decision makers. Tactical planning: guides the implementation of activities specified in the strategic plan, address shorter-term actions. The o(cid:396)ga(cid:374)izatio(cid:374)"s missio(cid:374: mission essential purpose that differentiates one company from another. Assessing organizational resources and evaluating environmental risks and. Strengths helps planner: set objectives, develop plans, take advantages of marketing opportunites. Consumer find their products in the proper quantities at the right times and places. Involves modes of transportation, warehousing, inventory control, order processing, and selection of marketing channels. Technology has opened new channels of distribution in many industries: promotion. Firms may communicate messages (directly through salespeople or indirectly through advertisements and promotions) Many companies use integrated marketing communication (imc: pricing. Methods of setting profitable and justifiable prices. A good pricing strategy (creates value for customers +