Assignment2 - Jackie Campbell 1. Define each of the...

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Jackie Campbell 1. Define each of the following: planning, strategic planning, and marketing planning. PLANNING – the process of anticipating future events and determining strategies to achieve organizational objectives in the future STRATEGIC PLANNING – is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. MARKETING PLANNING – designing activities relating to marketing objectives and the changing marketing environment 2. What is marketing myopia? MARKETING MYOPIA – a business in terms of goods and services rather than terms of the benefits customers seek 3. What is an SBU? If properly created, what 6 characteristics should an SBU have? SBU: Strategic business unit – a subgroup of a single business or a collection of related businesses within the larger organization 1 Distinct mission 2 Specific target market 3 control over its resources 4 Control of competitors 5 plans independent of other SBUs 6 4. What is a SWOT analysis? How does it relate to strategic planning? SWOT ANALYSIS – identifying internal strengths and weaknesses and also examining external opportunities and threats RELATIONSHIP TO STRATEGIC PLANNING – to have successful strategic planning you must first do a SWOT analysis 5. What is a marketing objective? Name three criteria for good marketing objectives. MARKETING OBJECTIVE – A statement of what is to be accomplished through marketing activities
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Assignment2 - Jackie Campbell 1. Define each of the...

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