ADMS 2200 Chapter Notes - Chapter 2: Target Market, Strategic Planning, Relationship Marketing
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ADMS 2200 Full Course Notes
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Marketing planning identifies the markets a company can best serve as well as the most appropriate mix of approaches to satisfy the customers in those markets. The marketplace changes continually in response to changes in consumer tastes and expectations, technological developments, competitors" actions, economic trends, and political and legal events, as well as product innovations and pressures from suppliers and distributors. Planning is the process of anticipating future events and conditions and of determining the best way to achieve organizational goals. Marketing planning is implementing planning activities devoted to achieving marketing objectives. Two types of planning: strategic planning, tactical planning. Strategic planning is the process of determining an organizations primary objects and adopting courses of action that will achieve these objectives. Strategic planning provides long-term direction for its decision makers. Tactical planning is planning that guides the implementation of the activities specified in the strategic plan.