Mark 1012

In: Business and Management

Submitted By studentdying
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Strategic Planning is the process of developing & maintaining a strategic fit between the organisations goals & capabilities & its changing market opportunities. Each firm must select a game plan that makes most sense to its specific situation, opportunities, objectives & resources (e.g. P&G has advertising $$$’s) it is essential for long run survival & growth. Strategic Planning guides Marketing Strategy & needs to be customer focused; it sets the stage for all planning within the firm.
Strategic Plan - Adapting the firm to take advantage of opportunities in its constantly changing environment.
Annual/Long-Range Plans - Deals with the firms current businesses & how to keep them going
Marketing Strategy - How marketers choose the target market, position their market offerings, develop a marketing mix & manage their marketing programs
Company Mission
What is our business? What should it be? Who is the customer? What do they value?
Mission Statement - The organisations purpose – what it wants to accomplish in the larger environment
Market Orientated – Defined in terms of satisfying customer needs (can be perpetual) instead of products/technologies that don’t last forever. E.g. “We Sell Drugs” Vs. “Bring the world healthcare products that improve lives & deliver outstanding value to customers”

Set Organisational Or Strategic Business Unit (SBU) Objectives
This usually related to setting objectives based on Sales, Profitability, Market Standing, Return On Investment, Customer Satisfaction or some other measure. The goals need to be:
Specific, Measurable, Achievable, Realistic, Timely
The firm & SBU’s must have their own objectives & goals must be supported by marketing strategies at both organisational levels.
Design A Business Portfolio By Evaluating Internal And External Environments And Analysing The Current Business Portfolio
The Business Portfolio is…...

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