MGT 3300 Lecture Notes - Lecture 5: Marketing Effectiveness, Marketing Strategy, Marketing Mix
Document Summary
The marketing management process refers to the planning, implementation, and control of marketing activities. These activities are continuous, and decisions made in the past in one area can have implications on the other areas as well. Planning required because marketing managers must seek new opportunities. Implementation the process of putting marketing plans into action. When performance falls short of expectations, the marketing manager must take corrective action. Strategic (management) planning developing and maintaining a match between an organization"s resources and its market opportunities. It includes planning for marketing, production, finance, human resources, and other areas. Though, marketing strategies are not whole-company plans, company plans should be market-oriented. The marketing plan sets the tone and direction for the whole company. Marketing strategy planning means finding opportunities and developing profitable marketing strategies that the company can use to capitalize on the opportunities.
