BK_Chapter002_Expanded

BK_Chapter002_Expanded - CHAPTER 2 Strategic Planning in...

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Chapter Objectives Strategic Planning in Contemporary Marketing CHAPTER 2 1 2 3 4 5 6 7 Distinguish between strategic planning and tactical planning. Explain how marketing plans differ at various levels in an organization. Identify the steps in the marketing planning process. Describe successful planning tools and techniques, including Porter’s Five Forces model, first and second mover strategies, SWOT analysis, and the strategic window. Identify the basic elements of a marketing strategy. Describe the environmental characteristics that influence strategic decisions. Describe the methods for marketing planning, including business portfolio analysis and the BCG matrix. 0
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CHAPTER 2 Strategic Planning in Contemporary Marketing MARKETING PLANNING: THE BASIS FOR STRATEGY AND TACTICS Planning Process of anticipating future events and conditions and of determining the best way to achieve organizational objectives. • Continuous process that creates a blueprint for everyone in the organization. • Important for large and small companies. 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. 0
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CHAPTER 2 Strategic Planning in Contemporary Marketing STRATEGIC PLANNING VERSUS TACTICAL  PLANNING Strategic planning Process of determining an organization’s primary objectives and adopting courses of action that will achieve these objectives. • Provides long-term direction for decision makers. Tactical planning Planning that guides the implementation of activities specified in the strategic plan. • Typically addresses shorter-term actions that focus on current or near- term activities. • Example: Wendy’s and Arby’s tactical move to expand their breakfast and snack menus to compete directly with McDonald’s and Burger King. 0
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CHAPTER 2 Strategic Planning in Contemporary Marketing PLANNING AT DIFFERENT ORGANIZATIONAL LEVELS • Focus on planning changes in different levels of the organization. 0
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CHAPTER 2 Strategic Planning in Contemporary Marketing STEPS IN THE MARKETING PLANNING  PROCESS
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BK_Chapter002_Expanded - CHAPTER 2 Strategic Planning in...

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