MKT 100 Lecture Notes - Lecture 2: Strategic Planning, Marketing Strategy, Marketing Mix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Daryl D' Souza

Document Summary

Chapter 2: developing marketing strategies and a marketing plan. Strategic planning in most organizations occur on at least two levels, the corporate level and the functional level. Corporate level planning is done by the company"s top management and focuses on the overall direction of the entire company. On the long term direction of the company, which is updated regularly to respond to change s in the business environment. Senior managers decide on the business of the company, define the company"s mission or vision and set objectives or goal for the company. Addition to corporate and functional level strategic planning, large companies that operate several business lines may see business units (sbu) develop strategic plans for their products and markets they serve. Example disney have 4 businesses units media, product, parks and resorts, studio entertainment. Marketing planning process: a set of steps a marketer goes through to develop a marketing plan.