Management and Organizational Studies 2320A/B Chapter 2: Developing Marketing Strategies and a Marketing Plan

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

Chapter 2 - developing a marketing plan & marketing strategies. Business environment can present marketers with new opportunities to expand their business. Problems may arise because of poor implementation thus a firm must take corrective action to adjust its marketing strategy to address weaknesses, threats, and opportunities. Walt disney noticed attendance at park was declining so changed strategy to meet with technological relevance. 1) corporate: done by co(cid:373)pa(cid:374)y"s top management, focuses on overall direction of the entire company, long-term direction; updated regularly to respond to changes. 2) functional: large corporations have various business functions which undertake some form of planning. Larger companies have sbus a division of the company that can be managed somewhat independently because it markets specific products to specific customers. Marketing planning process: a set of steps a marketer goes through to develop a marketing plan. A related marketing mix the four p"s. The bases upon which the firm plans to build a sustainable competitive advantage.