COMMERCE 2MA3 Study Guide - Midterm Guide: Marketing Strategy, Middle Management, Strategic Planning

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2MA3
• Professor: Bharat Vaishnav

Document Summary

Marketing planning: implementing planning activities devoted to achieving marketing objectives. Adopting courses of action to achieve these objectives. Strategic level= top management (board of directors, ceo, coo, divisional vp). Examples: organization-wide objectives; fundamental strategies; long-term plans; total budget. Tactical planning= middle management (general sales manager, business unit manager, director of marketing research). Examples: quarterly and semi-annual plans; business unit budgets; divisional policies and procedures. Operational planning= supervisory management (district sales manager, supervisor). Examples: daily and weekly plans; unit budgets; departmental rules and procedures. Mission: essential purpose that differentiates one company from another. Sephora: the beauty authority. tim horton"s: always fresh . Objectives: guide the development of marketing objectives and plans. (ex. Add 25 new outlets within the next year; enter chinese market by 2015). Marketing strategy: selecting and satisfying target consumers through the marketing mix elements. Monitor performance to ensure that objectives are achieved.