BUSI 2208 Chapter Notes - Chapter 2: Competitive Advantage, Marketing Mix, Marketing Plan
22 Dec 2012
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Document Summary
Levels of strategic planning in corporations: effective marketing doesn"t just happen. Firms carefully plan their marketing strategy to react to changes in the environment, the competition, and their customers. Corporate level: done by the company"s top management and focuses on the overall direction of the entire company. Senior managers decide on the business of the company, set its mission/vision, objectives and goals for the company. Focuses on long- term and adapts to the changing business environment. Functional level: various functions within the organization such as marketing, finance, human resources etc each of these functions usually undertakes some form of planning (marketing function develops plans for company"s various products, brands, markets etc. ). Strategic business units (sbu): an sbu is a division of the company that can be managed somewhat independently from other divisions since it markets a specific set of products to a clearly defined group of customers.
