Business Administration 3301K Lecture Notes - Lecture 32: Swot Analysis, Strategic Planning, Loyalty Program
Document Summary
Firms plan their marketing strategies to react to changes in the environment, the competition and their customers by creating a marketing plan. Strategic planning in most organizations occurs on 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. Focuses on long term direction of the company. Large companies that operate several business lines may see each to their strategic business units develop strategic plans for their products and the markets they serve. Marketing can advise sbu"s of changing consumer trends or recommend that. Marketing planning process: a set of steps a marketer goes through to develop a marketing plan. A written document composed of an analysis of the current marketing situation, opportunities, threats for the firm. A written marketing plan provides a reference point for evaluating whether or not the firm met its objectives.