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Wells07_Basic - Strategic Planning Part 2 Planning and...

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Strategic Planning Part 2: Planning and Strategy Chapter 7
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7-2 Key Points Differentiate between objectives, strategies, and tactics in strategic planning Identify the six basic decisions in an advertising plan Explain how account planning works Outline the key features in an IMC plan
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7-3 Strategic Planning The process of determining objectives, deciding on strategies, and implementing the tactics Objectives What you want to accomplish Strategies How to accomplish the objectives Tactics Make the plan come to life
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7-4 A Three-Tiered Process 1. The business plan 2. The marketing plan 3. The advertising or IMC plan May cover a specific division of the company or a strategic business unit with a common set of problems
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7-5 A Three-Tiered Process 1. The business plan 2. The marketing plan 3. The advertising or IMC plan Parallels the business strategic plan and contains many of the same components
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7-6 A Three-Tiered Process 1. The business plan 2. The marketing plan 3. The advertising or IMC plan Operates with the same concern for objectives, strategies, and tactics as business and marketing plans
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7-7 Basic Strategic Planning Decisions Annual advertising or IMC plan Outlines all the
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