An ongoing process of making decisions that guide the
Business planning firm both in the short term and for the long term
A plan that includes the decisions that guide the entire
"A document that describes the marketing environment,
Marketing plan outlines the marketing objectives and strategy, and
identifies who will be responsible for carrying out each part
of the marketing strategy"
A managerial decision process that matches an
Strategic planning organization's resources and capabilities to its market
opportunities for long-term growth and survival Strategy What a firm is going to do to achieve an objective
Tactics How a strategy is going to be enacted
"A semi-autonomous entity that operates as an
Strategic business unit (SBU) independent business with its own mission and objectives,
and its own marketing strategy"
"A decisions process that concentrates on developing
Functional planning plans for strategies and tactics for the short term,
supporting an organization's long term strategic plan" "Planning that focuses on the day-to-day execution of the
Operational planning functional plans and includes detailed annual,
semi-annual, or quarterly plans"
"A formal statement in an organization's strategic plan that
describes the overall purpose of the organization and what
it intends to achieve in terms of its customers, products,
The uncontrollable elements outside of an organization
External environment that may affect its performance either positively or
PESTO "Political, economic, social, technological, other issues" "The controllable elements inside an organization
Internal environment -including its people, its facilities, and how it does things
-that influence the operations of the organization"
The group of different products or brands owned by an
Business portfolio organization and characterized by different
income-generating and growth capabilities
Portfolio analysis A tool management uses to assess the potential of a
firm's business portfolio
"A portfolio analysis developed by Boston Consulting
BCG growth-market share matrix
Group. Stars, question marks, cash cows, dogs" "Growth strategies designed to increase sales of existing
Market penetration strategies products to current customers, nonusers, and users of
competitive brands in served markets"