BU352 Chapter Notes - Chapter 2: Strategic Business Unit, Swot Analysis, Marketing Mix
Document Summary
Marketing planning process: a set of steps a marketer goes through to develop a marketing plan. The marketing plan- a written document composed of an analysis of the current marketing situation, opportunities and threats, and marketing objectives. Come up with mission statement (answers 2 questions- what type of business is it and what does it need to do to accomplish its goals and objectives: step 2: conduct a situation analysis. Situation analysis uses a swot analysis that assesses both the internal environment with regards to its strengths and. Weaknesses and the external environment in terms of its. 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 3: identify and evaluate opportunities by using stp.
