ADM 2320 Chapter Notes - Chapter 2: Strategic Planning, Swot Analysis, Marketing Mix

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Chapter 2 developing a marketing plan and marketing strategies. Strategic planning in most organizations occurs on at least two levels, the corporate level, and the functional level. Corporate le(cid:448)el pla(cid:374)(cid:374)i(cid:374)g is do(cid:374)e (cid:271)(cid:455) the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s top (cid:373)a(cid:374)age(cid:373)e(cid:374)t a(cid:374)d fo(cid:272)uses o(cid:374) the o(cid:448)erall direction of the entire company. Senior managers decide on the business of the company, define the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s (cid:373)issio(cid:374) or (cid:448)isio(cid:374), a(cid:374)d set o(cid:271)je(cid:272)ti(cid:448)es or goals for the company. It focuses on long-term direction of the company. Large corporations have various business functions such as hr, r&d, finance, manufacturing and marketing. The marketing function develops marketing pla(cid:374)s for the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s (cid:448)arious produ(cid:272)ts, (cid:271)ra(cid:374)ds, a(cid:374)d (cid:373)arkets. Theses pla(cid:374)s (cid:272)ould take the for(cid:373) of annual plans or three-to-five year plans. Marketing planning process: a set of steps a marketer goes through to develop a marketing plan. The three major phases of the marketing plan are:

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