Strategies Statements that outline how the objectives will be achieved such as

Strategies statements that outline how the objectives

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