Chapter 2: Strategic Planning and the Marketing Proc...

What is Strategic Planning? Strategic Planning is the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities. Mission Statement Answers What is our business? Who is the customer? What does the customer value? What should our business be? Successful Mission Statements... Are specific. Are realistic. Are motivating. Are customer-centric. Fit the market environment. Are based on distinctive competencies. The Marketing Process Analyze current situation. Analyze marketing opportunities. Select target markets. Develop the marketing mix. Manage the marketing effort. Review Strategic Business Unit BCG Growth-Share Matrix Analyze Opportunities Product-Market Expansion Grid identifies four potential growth areas:

The Marketing Mix

The set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. Product, Place, Promotion, Price The Four P's and the Four C's

Review A Marketing Plan Marketing Control Process