Management and Organizational Studies 2320A/B Chapter 2: Marketing Chapter Two

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Gail Leizerovici

Document Summary

Firms carefully plan their marketing strategies to react to changes in the environment, the competition, and their customers by creating a marketing plan. Strategic planning occurs on at least two levels the corporate level and the functional level. In addition to corporate and functional level strategic planning, large companies that operate several business lines may see each of their strategic business units (sbus) develop strategic plans for their products and the markets they serve. A marketing plan is a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four ps. There are three major phases in the marketing plan: planning, implementation, and control. Implementation phase: where marketing managers identify and evaluate different opportunities by engaging in a process known as segmentation, targeting, and positioning. They then develop and implement the marketing mix by using the four ps (step three and four)