Management and Organizational Studies 3322F/G Chapter Notes - Chapter 2: Consumer Behaviour, Espn Bottomline, Swot Analysis

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3322F/G
• Professor: John White

Document Summary

All business planning is an integrated process that involves planning at three levels of an organization: The common factor among all companies should be integration. Strategic planning (corporate strategy) the process of determining objectives (setting goals) and identifying strategies (ways to achieve the goals) and tactics (specific action plans) to help achieve objectives. A cyclical process in most organizations and typically occurs on an annual basis. A (cid:272)o(cid:373)pa(cid:374)(cid:455)"s strategi(cid:272) pla(cid:374) is i(cid:374)flue(cid:374)(cid:272)ed (cid:271)(cid:455) (cid:272)ha(cid:374)ges i(cid:374) the e(cid:272)o(cid:374)o(cid:373)(cid:455), a(cid:373)o(cid:374)g (cid:272)o(cid:374)su(cid:373)ers, i(cid:374) te(cid:272)h(cid:374)olog(cid:455), i(cid:374) la(cid:449)s and regulations governing business practices, in competitor activities, and in environmental issues. If (cid:272)o(cid:374)su(cid:373)ers are(cid:374)"t spe(cid:374)di(cid:374)g, (cid:373)arketi(cid:374)g orga(cid:374)izatio(cid:374)s (cid:373)ight adopt a (cid:272)o(cid:374)ser(cid:448)ati(cid:448)e approa(cid:272)h a(cid:374)d (cid:272)o(cid:374)trol investment in marketing and marketing communications. If an economy is expanding, employment is plentiful, and incomes are growing, it would be a time for an organization to invest more funds in marketing and marketing communications. Assessing the activities of competitors is probably the most thoroughly analyzed aspect of marketing planning.