Strategies statements that outline how the objectives

 Strategies : Statements that outline how the objectives will be achieved, such as the
direction to be take and the allocation of resources needed to proceed.
 Tactics : Action-oriented details that outline how a strategic plan will be implemented.
External influences that affect all levels of planning in an organization:
 External environments
 Economic conditions
 Competitor activity
o Direct competition : Competition from alternative products and services that
satisfy the needs of a target market.
o Indirect competition : Competition from substitute products that offer the same
benefit as another type of product.
o Oligopoly : A market situation in which only a few brands control the market.
o Monopolistic competition : A market in which there are many competitors, each
offering a unique marketing mix; consumers can assess these choic3es prior to
making a buying decision.
 Demographic trends
o Aging population
o Urbanization
o Changing household formations
o Ethnic diversity and subcultures
o Spending power and wealth
 Social change
o Lifestyles
o Natural environment
 Technology
o Consumer-generated content : Online content, often brand oriented, that is created
by consumers for consumers.
 Laws and regulations

Corporate plan : A strategic plan formulated at the executive level of an organization to guide the
development of functional plans in the organization.
 Mission statement : A statement of an organization’s purpose and operating philosophy;
provides; provides guidance and direction for the operations of the company.
 Corporate objective: A statement of a company’s overall goal; used to evaluate the
effectiveness or ineffectiveness of a company’s strategic plan.
 Divestment strategy : Selling off divisions or product lines that no longer fit the strategic
direction an organization is taking.
 Acquisition strategy : A plan of action for acquiring companies that represent attractive
financial opportunities.
 Penetration strategy : A plan of action for aggressive marketing of a company’s existing
products.
 New product development strategy : A marketing strategy that calls for significant
investment in research and development to develop innovative products.
 Strategic alliances : A relationship between two companies where the resources of those
companies are combines in a marketing venture for the purpose of studying the customers
they share.
SWOT analysis (market background): An analysis procedure that involves an assessment of an
organization’s strengths, weakness, opportunities, and threats.
External influences:
 Economic trends
 Social and demographic trends
 Technology trends
 Regulatory trends
Market analysis:
 Market size and growth
 Regional markets
 Market segment analysis
 Seasonal analysis
Target market analysis:
 Consumer data
 Consumer behaviour
Product (brand) analysis:
 Sales volume trends
 Market share trends
 Distribution
 Marketing communications
 New product activity
Competition analysis:
 Market share trends

 Marketing strategy assessment
Marketing plan : A short-term, specific plan of action that combines strategies and tactics.