MKTG 2030 Chapter Notes -Swot Analysis, Strategic Planning, Marketing Plan
16 Mar 2014
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Chapter 2: strategic market planning: take the big picture. Business planning: an ongoing process of decision-making that guides the firm both in the short and long term. Business plan: a plan that includes the decisions that guide the entire organization. Marketing plan: a document that describes the marketing environment, outlines the marketing objectives and strategies, and identifies how the company will implement and control the strategies embedded in the plan. Unethical decisions usually come back to bite you later. Strategic planning: a managerial decision process that marches an organization"s resource and capabilities to its market opportunities for long-term growth and survival. Decisions focus on the firm"s ability to respond to changes and opportunities. Strategy: what a firm is going to do to achieve an objective. Functional planning: a decision process that concentrates on developing detailed plans for strategies and tactics for the short term, supporting an organization"s long-term strategic plan.
