For an example of a strategic plan you can read the Athabasca University

For an example of a strategic plan you can read the

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For an example of a strategic plan, you can read the Athabasca University Strategic Plan for 2006–2011 . How does strategic planning relate to marketing? As one of several organizational functions, marketing has to contribute to the planning process by providing inputs on the performance of the organization’s offerings on the different markets served. Conversely, any subsequent marketing planning process has to be conducted within the framework set by the strategic plan.
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2 Portfolio analysis and the Boston Consulting Group (BCG) matrix : Portfolio analysis is the "process by which management evaluates the products and businesses that make up the company (textbook, p. 47), and the BCG matrix is a tool that helps to perform such an analysis. Specifically, the BCG matrix uses two critical dimensions in business: market growth rate and relative market share. Market growth rate is an indicator of how well an industry as a whole performs. For example, the oil industry in Alberta has been growing lately, a sign that doing business in that industry may be rewarding, because normally an expanding industry offers growth opportunities to all firms operating in that industry. Conversely, when the sales in an industry are declining, as in the floppy disk industry, business opportunities are reduced for all companies. Relative market share shows how strong the company is compared to the main competitors. A low relative market share means that the company is not very strong compared to other competitors. As you can see in Figure 2.2 on page 48 of the textbook, combining the market growth rate and relative market share dimensions leads to four possible types of products or businesses. The ultimate goal here is to find an effective way to allocate resources among products or businesses in such a way that the organization maximizes its current and future returns. 3 Marketing plan: While the strategic plan provides direction to the whole organization, the marketing plan provides direction to the marketing department or unit within the organization. Table 2.2 on page 61 of the textbook gives a general framework that can be used to prepare a marketing plan. The marketing planning process starts with a review of the current marketing situation of the organization to establish its strengths and weaknesses. This is followed by a deep analysis of the external environments to identify the threats and opportunities. Once the organization’s strengths and weaknesses, as well as the threats and opportunities, are known, the marketing objectives can be set, along with the other points of the plan such as marketing strategy, action programs, and budgets. The remaining lessons in this course are designed to help you gather sufficient knowledge to produce marketing plans. Specifically, the next three lessons are a preparation for situation analysis, Lesson 6 covers the elaboration of a marketing strategy, and Lessons 7 to 13 deal with marketing action programs with respect to every tactical marketing tool.
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  • Spring '15
  • Marketing, Athabasca University Strategic Plan

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