BUS 343 Chapter Notes - Chapter 14: Swot Analysis, Marketing Plan, Marketing Mix

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Jason Ho

Document Summary

If you fail to plan, you plan to fail : businesses that succeed do so because they are capable of developing and implementing superior strategies in the marketplace. Lacking superior strategies, the business continually underperforms: there is a lot of pie in the sky thinking ,but no formal strategy. without format strategies to compete in a tough marketplace, the business thinks about success, but it never comes to fruition: the business tends to waste resources trying one tactic after another. without a plan of action, the business attempts many things without knowing in advance the likelihood of their success: the business lacks a playbook . a marketing plan is like a playbook for sports team. Without a playbook, there is no accountability within different functions: there is no unity within the organization. Lacking a glue that binds the business together, different functions work to optimize specific interested instead of focusing on the customer.