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Principles of
Marketing
 ❖ Distinguish between strategic and
marketing and identify the product or
service target market.

✓ Distinguish strategic and marketing planning; and

✓ Identify the strategic and marketing planning in
terms of objectives and processes.
 ❖Strategic Planning
is defined as designing a
way for business to
❖In ancient Greek, ‘stratos” was achieve its objectives. This
the term for the army and so in is done by matching
military terms, “strategy” referred company resources with
to “the act of general” so a opportunities in the
strategy is some sort of future environment to make sure
plan of action, undertaken by that there is a fit.
senior management at a higher
level of abstraction.

❖This is a senior management responsibility. Strategic

plans are long term and could cover three to five years.
The mission statement explains the
organization’s business values and its
purpose.
You will cover both the macro and micro-
environment to evaluate current and future
business positioning.
The organization needs to build up a
competitive advantage over its competitors.
A lists of all of the tasks that you need to
finish to meet an objective.
This is the execution of the strategy that
specify the guidelines and measurements.
❖Marketing Planning is a process that consists of
analyzing current situation and information about
marketing opportunities, forecasting and establishing
planning premises, selecting target market(s) and
determining marketing objectives.
 Marketing Planning objectives
are specific targets that a
business would like to achieve in
one year.
In crafting marketing
objectives, you need to consider
particular guidelines. These
guidelines can be summarized
into an acronym SMART that
stands for Specific, Measurable,
Attainable, Realistic and Time-
bound.
➢ Details exactly what needs to be done

➢ Achievement or progress can be measured

➢ Objectives is accepted by those responsible for

achieving it.

➢ Objective is possible to attain (important for

motivational effect.

➢ Time period for achievement is clearly stated.

Identifying business capabilities, customers and
business environment.

Goals set by a business when promoting its

products or services to customers that should
be achieved within a given timeframe.

It refers to a business overall game plan for

reaching prospective consumers and turning
them into customers of the products or services.

The strategic actions that direct the promotion

of a product or service to influence specific
marketing goals.
 Strategic and Marketing Planning is deciding in advance
what to do, how to do it, when to do it and who is to do it.
Planning is simply a rational approach to accomplish an
objective. It bridges the gap from where we are & where we
want to go. Planning is the first management function to be
performed in the process of management. It governs survival,
growth and prosperity of any enterprise in a competitive and
ever changing environment.