BUSI 2208 Chapter Notes - Chapter 2: Competitive Advantage, Swot Analysis, Marketing Plan
Document Summary
Strategic planning in most business occurs on 2 levels: corporate, focuses on long-term decision of the company updated regularly to respond to changes in the business environment, functional. Large business operate on several business lines may see each of the strategic business units (sbus: develop strategic plans for their products and markets served, can be somewhat managed independently. Important to realize that marketing function can be involved in both corporate level and sbu-level planning in order to focus on creating value for the customers and the business. Marketing planning process: a set of steps a marketer goes through to develop a marketing plan. Important to know the objectives for the firm and how they are going to be met. Important to the firm, and stakeholders: control. Step 1: define the business mission and objectives. Situation analysis: using a swot analysis that assesses both the internal environment (strengths and weaknesses) and external environment (opportunities and threats)
