ADMS 2200 Chapter Notes - Chapter 2: Swot Analysis, Marketing Strategy, Pricing Strategies

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Andreas Strebinger

Document Summary

Chapter 2: key terms and ideas strategic planning in contemporary marketing. Planning: is the process of anticipating future events and conditions and of determining the best way to achieve organizational goals: planning is a continues process that incudes identifying objectives, it is a blueprint that helps achieve those objectives. Marketing planning: implementing planning activities devoted to achieving marketing objectives: product lines, pricing decisions, selection of appropriate distribution channels, and decisions relating to promotional campaigns. Strategic planning: process of determining an organizations primary objectives and adapting courses of actions that will achieve these actions. (long-term planning) Tactical planning: planning that guides that implementation of activities specified in the strategic plan. (day-to-day planning) Top management spends more time engaged in strategic planning than do middle and supervisory-level managers, who tend to focus on narrow, tactical plans for their units. Mission: the essential purpose that differentiates the company from others.