Marketing Strategic Planning Marketing Strategy

2.4 MARKETING STRATEGIC PLANNING PROCESS Marketing strategic planning is a management tool to help the organization does better work and understand how to compete for the future. It is a guiding process for the members of an organization developing them necessary procedures and operations in the future. Like a decisions strategy for the organization process, as the process of growing and maintaining a strategic fit between target of organization and capability and it’s changing marketing opportunities (Kotler, 2009). It involves defining a clear company mission, setting supporting goals, designing a sound business portfolio, and coordinating functional strategies. Mission statement: a statement of the organization’s purpose, what it wants to achieve in the large environment (Kotler, 2009). In the first step of strategic planning process, it will supports company to thinking the question like: What is our business? Who is the customer? What do consumer value? What should our business be? (Kotler, 2009) with those questions, that will be acts as a guide that provides a vision and direction for the company until future. Goals setting have a mission that needs to be detailed supporting the goals into each level of management. It will leads to specific business and marketing objectives. The objectives need to be specific. It can be developed the company market strategy. From the strategic planning process, the case company will be easily to identify the elements for theShow MoreRelatedCompany and Marketing Strategy: Partnering to Build Customer Relationships1465 Words   |  6 Pagesable to: 1. Explain companywide strategic planning in its four steps 2. Discuss how to design business portfolios and develop growth strategies 3. Explain marketing’s role in strategic planning and how marketing works with its partners to create and deliver customer value 4. Describe the elements of a customer-driven marketing strategy and mix, and the forces that influence it 5. List the marketing management functions, including the elements of a marketing plan, and discuss the importance ofRead MoreStrategic Marketing Process Essay974 Words   |  4 PagesStrategic Marketing Process The purpose of this paper is to briefly explore the strategic marketing process, specifically the key phases of planning, implementation, and control. In addition, the application of mixed marketing to create a market segments as well as customer loyalty is equally explored. Several relevant scholarly sources were identified to provide research and information about the strategic marketing process and its evolutionary development from the industrial to the informationRead MoreWhy Do Healthcare Practices Need a Marketing Plan?793 Words   |  3 Pagesdescribes an organizations advertising and marketing efforts for the coming year is known as a marketing plan. A marketing plan includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix intended for use in reaching marketing goals (entrepreneur.com, 2012). A second definition of a marketing plan is as follows: a plan that describes the activities involv ed in achieving certain marketing objectives within a given timeframeRead MoreIdentify and Evaluate Key Personal and Professional Managerial/Leadership Skills Including Time Management, Running Meetings, Making Presentations and Stress Management. Explore Methods to Improve These Skills in Order1440 Words   |  6 Pages1(a) A strategy is method by which a company is run in order to generate revenue. Whilst investigating strategies by which companies run, Samsung Electronics Company (SEC) can be considered for a case study due to its remarkable market share, brand reputation and global positioning. 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However, marketing is not just selling and advertising, although they make up a critical role in marketing. With so many forms of marketing, so many products, and limited number of customers: how do firms compete? In an interview with Gail Smith, Chairman and CEO of Abbene | Smith Global, LLC, I received insight on what the requirements for a successful business and how marketing plays a critical role in the day-to-day operations, as wellRead MoreStrategic Marketing : Business World, Tourism And Hospitality Industry Essay1379 Words   |  6 Pag esto deal with the present condition of Great Yarmouth as a tourist destination through the analysis with strategic marketing, planning process, environmental analysis and recommended some strategic options for Great Yarmouth for achieving a sustainable source of competitive advantage. Task 1: The key fundamentals of strategic marketing Strategic marketing: The ultimate goal of strategic marketing is achieving a distinctive position (i.e. above average performance) that can give it a sustainable sourceRead MoreBasic Aspect of International Marketing1574 Words   |  7 PagesBasic aspects of International Marketing There are three basic aspects of International marketing are as follows:- * The new product development process * Demand management * Sales marketing process (1) The new product development process can be defined as follows:-   This process characterizes itself as integration between Marketing, Ramp;D/Engineering and Manufacturing. Besides, several operating levels are active within the new product development process.   The steps shownRead MoreCritical Thinking Questions : Strategic Planning1160 Words   |  5 PagesChapter 2 Critical Thinking Questions: 1. Strategic planning is the process a company uses to develop and maintain a strategic fit between their goals as an organization and their capabilities of meeting demands in a fast-changing market. Strategic planning helps companies take advantage and adapt to the opportunities that it’s ever changing environment throws at them. There are four steps to strategic planning. Marketing plays a large role in the strategic planning, because the plan is finding ways toRead MoreThe Big Lie of Strategic Planning by: Roger Martin668 Words   |  3 PagesIt is evident that strategic planning is important when it comes to decision making for many marketing managers. The article The Big Lie of Strategic Planning by Roger Martin, suggests that choosing a strategy strictly based on a certain process â€Å"entails making decisions that explicitly cut off possibilities and option† (Martin, 2014). It speaks on the fear that many marketing managers face when challenged with decisions because the wrong decision can surely hurt his or her career, as well as the