Module 12 - 12.1 Question 1 Strategic planning is the...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
12.1 Question 1 Strategic planning is the managerial process of creating and maintaining a fit between the organization's objectives, resources and the evolving market opportunities. It has 3 level – Corporate strategic planning, Business sp and Functional sp. There are five main benefits for planning: First , management has the opportunity to be proactive with the marketing activity rather than reactive. Second, marketing activities can be integrated and coordinated. Third, it allows all members of the organization to identify and understand the direction and focus of senior management. Next , all the organizational activities can be compared to the plan to ensure goal oriented and consistent activities. Finally, it allows the organization to compare the plan with the actual and make changes if necessary so as to gain a more relevant outcome. The marketing strategy is part of marketing planning , and marketing planning is part of the organization strategic planning. Marketing plans are drawn from the organizational strategy, in
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Module 12 - 12.1 Question 1 Strategic planning is the...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online