Accounting MRK108 Lecture Notes - Marketing Mix, Swot Analysis
12 Mar 2014
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Document Summary
Marketing planning designing activities relating to marketing objectives and the changing marketing environment. Marketing plan a written document that acts as a guidebook of marketing activities for the marketing manager. A marketing objective is a statement of what is to be accomplished through marketing activities. Marketing objectives should be realistic, measurable, and time-specific. Evaluate strategic direction use portfolio matrix (star, cash cow, question mark, dog) Implementation is the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan"s objectives. Evaluation involves gauging the extent to which marketing objectives have been achieved during the specified time period. Control provides the mechanisms for evaluating marketing results in light of the plan"s objectives within budget guidelines. The management process of creating and maintaining a fit between the organization"s objectives and resources and evolving market opportunities. The mission statement answers the question, what business are we in? .
