MKT 320F Lecture Notes - Lecture 2: Sales Promotion, Marketing Mix
Document Summary
Strategic planning is the managerial process of creating and maintaining a fit between the organization"s objectives and resources and the evolving market opportunities. -strategic error without alternate plan can damage/hurt organization or yourself in the job market. Apple reducing price of iphone to attract new customers. Finding opportunities and developing profitable marketing strategies that a company can use to capitalize on marketing opportunities. -production-oriented manager sees everyone as basically similar and practices mass marketing . -marketing-oriented manager sees everyone as different and practices target marketing . -planning: the process of anticipating future events and determining strategies to achieve organizational objectives in the future. -marketing planning: designing activities relating to marketing objectives and the changing marketing environment. -marketing plan: a written document that acts as a guidebook of marketing activities for the marketing strategy. -provides basis for comparison of actual and expected performance. -provides clearly stated activities to work toward common goal.
