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Marketing strategy (Marketing plan = a written document that specifies the…
Marketing strategy
Marketing plan = a written document that specifies the activities to be performed to implement and control an organisation's marketing activities. living document, adapted as needed to changing environment
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= a plan of action for identifying and analysing a target market and developing a marketing mix to meet the needs of that party
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creating marketing mix
consistent with business unit and corporate strategies, consistency and flexibility are key
strategic planning process = the establishment of an organisational mission and formulating goals, corporate strategy, marketing objectives, marketing strategy and marketing plan
Market control process
- evaluation of performance relative to established standards
- corrective action if necessary
- establishment of performance standards
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Marketing planning = the process of assessing opportunities and resources, determining objectives, defining strategies and establishing guidelines for implementation and control of the marketing program
Marketing implementation = the process of executing marketing strategies. internal marketing (coordinating exchanges between the company and its employees to achieve successful external exchanges between the company and its customers). marketing unit can be organised as centralised or decentralised according to functions, products, types of customers or regions
