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chapter 2 - • Develop Marketing Strategies i Select...

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Chapter 2 Outline Strategic Planning and the Marketing Environment I. Strategic Planning: The managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth and survival This process may follow a top-down strategy or a bottom-up strategy Steps in strategic planning: (May be conducted at the corporate or the SBU level) 1. Defining the Firm's Business Mission 2. Setting Corporate Goals and Objective (usually stated in terms of profit and growth) 3. Planning for Growth: The Business Portfolio -Strategic Business Units (SBUs) Differences between Strategic Planning, Tactical Planning, and Operational Planning The Marketing Management Process A. Marketing Planning Evaluate the Marketing Environment (SWOT analysis) Set Marketing Objectives
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Unformatted text preview: • Develop Marketing Strategies i. Select target market ii. Develop Marketing Mix Programs (product, price, promotion, & distribution) B. Marketing Implementation • Set the Marketing Budget • Develop specific action plans • Organize the marketing function C. Marketing Control and Evaluation • Establish performance standards • Trend analysis • Reduce differences between actual and desired performance (exploit positive deviations) • Marketing research Internal Environment • Corporate resources & competencies • Corporate culture External Business Environment • Economic environment • Competitive environment • Technological environment • Legal environment • Sociocultural environment 1 • Natural environment 2...
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