ADMS 2200 Chapter Notes - Chapter 2: Bargaining Power, Relationship Marketing, Regional Policy Of The European Union
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ADMS 2200 Full Course Notes
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Chapter 2 strategic planning in contemporary marketing. Planning anticipating future events and conditions and determining the best way to achieve organizational objectives. Creates a blueprint for everyone in the organization. Marketing planning implementing planning activities devoted to achieving marketing objectives. Many planning activities take place over the internet with virtual conferences. Chapter objective 1: distinguish between strategic planning and tactical planning. Adopting courses of action that will achieve these objectives. Tactical planning guides the implementation of activities specified in the strategic plan. Chapter objective 2: explain how marketing plans differ at various levels in an organization. Chapter objective 4: describe successful planning tools and techniques. Identify forces that influence planning strategies: threat of new entrants, bargaining power of buyers, bargaining power of suppliers, threat of substitute products, rivalry among competitors. The company first to offer a product in a marketplace will be the long-term market winner.