PRINCIPLES OF MARKETING

UNIT 2

CORPORATE STRATEGIC
PLANNING
 Corporate Strategic Planning is a companywide
approach for developing strategic plans to achieve a
longer-term vision.

 Chandler stated that, “Strategy is the determination of

the basic long- term goals and objectives of an enterprise
and the adoption of courses of action and the allocation
of resources necessary to carry out these goals and meet
some objectives.
LEVELS OF MARKETING STRATEGY:

1. Corporate Level Strategy

2. Business Level Strategy

3. Functional Level Strategy

 FEATURES OF A CORPORATE
MARKETING STRATEGY

Strategy helps in meeting organizational goals and objectives

1. Strategy is a comprehensive and integrated plan for the allocation scarce

organizational resources.

2. Strategy helps in coordination and better control.

3. Strategy helps to increase competitive strength of the organization.

4. Strategy ensures efficiency and effectiveness in utilization of resources.

5. Strategy formulation is a significant part of managerial decision making.

STRATEGIC MANAGEMENT:

Strategic management involves all the analysis of

internal capabilities and external environment of the

organization in order to effectively and efficiently uses
the resources to meet the organizational objectives.
Strategic management is a systematic approach
 Steps in Strategic Management
 
1. Determining the corporate philosophy.

2. Defining the corporate goals and objectives.

3. Formulating business strategies, functional strategies

and regional strategies.

4. Planning the organization structure and its legal

forms.
5. Planning the management systems and process
including :
 Management development
 Information systems and
 Management pay and incentives

6. The process of implementation and supervision.

7. The design of the desired corporate culture.

 ROLE OF MARKETING STRATEGIES FOR COPORATE
GROWTH
 
Strategy is the action plan that takes you where you want to go, It

helps in formulating a plan of action on how to survive/tactics.

The tactics are the individual steps and actions that will get you.

As the global environment is changing rapidly, Strategic

management is an important area as it deals with company’s

mission and objective.
Strategic management is the important area of modern

management relating to long- term corporate planning

of business.

It deals with company’s mission and objective in the

changing perspective environment.

END OF UNIT 2