COMMERCE 3QA3 Chapter Notes - Chapter 2: Marketing Strategy, Marketing Mix, Swot Analysis
4 Oct 2017
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Planning process of anticipating future events and conditions and of determining the best way to achieve organizational goals. Marketing planning implementing planning activities devoted to achieving marketing objectives. Strategic planning pro(cid:272)ess of deter(cid:373)i(cid:374)i(cid:374)g a(cid:374) orga(cid:374)izatio(cid:374)"s pri(cid:373)ary o(cid:271)je(cid:272)tives and adopting courses of action that will achieve these objectivities. Tactical planning planning that guides the implementation of activities specified in the strategic plan. Mission essential purpose that differentiates one company from others. Marketing strategy overall company-wide program for selecting a particular target market then satisfying consumers in that market through the marketing mix. First mover strategy theory advocating that the company that is first to offer a product in a marketplace will be the long-term market winner. Second mover strategy theory that advocated observing closely the innovations of first movers and the introducing new product that improve on the original offering to gain advantage in the marketplace.
