BU352 Chapter Notes - Chapter 2: Swot Analysis, Marketing Mix, Target Market
Document Summary
Marketing plan written document analyzing, current marketing situation (swot), marking o(cid:271)je(cid:272)tives a(cid:374)d strategy for the four p"s, a(cid:272)tio(cid:374) progra(cid:373)s, a(cid:374)d proje(cid:272)ted fi(cid:374)a(cid:374)(cid:272)ial state(cid:373)e(cid:374)ts. Everyone involved in the implementation must know the overall objectives for the firm how they will be met. Planning phase: marketing executives, and other top managers define the mission and objectives of the business, evaluate the situation by assessing how various players, both inside and outside the orga(cid:374)izatio(cid:374) affe(cid:272)t the fir(cid:373)"s pote(cid:374)tial for su(cid:272)(cid:272)ess. Implementation phase: marketing managers identify and evaluate different opportunities by engaging in a process known as segmentation, targeting, and positioning (stp, then responsible for implementing the marketing mix using the four ps (step 4) Control phase: evaluating performance of the marketing strategy using marketing metrics and taking any necessary corrective actions. Business mission & objectives; situational analysis; identifying opportunities; implement marketing mix; evaluate performance using marketing metrics. No need to go through all steps; eg. go from 5 back to 2.
