CH2 - 1 Strategic Planning Chapter 2 Market planning...

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Unformatted text preview: 1 Strategic Planning Chapter 2 Market planning Developing strategies to determine the organizations future and specific marketing activities Can not be done until firm-wide strategic planning has taken place Develop a Specific Marketing Plan A written document that Marketing Plan LO 1 A written document that acts as a guidebook of marketing activities for the marketing manager. 2 Steps in Market Planning Define Business Mission Set Plan Objectives Conduct SWOT Analysis Set Strategic Direction Implement (TM and 4Ps) Mission statement What business are we in? Must balance staying within core competency with marketing myopia Define Business Mission Objective A statement of what is to be accomplished To achieve 10% market share in technology division within 12 months Set Plan Objectives 3 SWOT Determines the firms strengths, weaknesses, opportunities and strengths Identifies the firms competitive advantage Conduct SWOT Analysis advantage SWOT analysis (Situation Analysis) Strengths = core competencies Weaknesses = = lack of skilled employees, market knowledge, resources, experience, flexibility Opportunities = positive environmental changes Threats = negative environmental changes Competitive Advantage Competitive Advantage The set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition. 4...
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CH2 - 1 Strategic Planning Chapter 2 Market planning...

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