BU352 Chapter Notes - Chapter 2: Strategic Business Unit, Market Segmentation, Competitive Advantage
Document Summary
Chapter 2 developing a marketing plan & marketing strategies. Firms carefully plan their marketing strategies to react to changes in the environment, the competition, and their customers by creating a marketing plan. These plans could take the form of annual plans or 3-5 year plans. On top of corporate/functional planning, large companies with several business lines may see each of their sbus develop strategic plans for their products and the markets they serve. Strategic business unit sbu: 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. Each of these units develops plans for the products and markets under their control. Marketing function may also be involved in both corporate-level and sbu-level planning because of its focus on creating value for customers and the company. Marketing planning process: set of steps a marketer goes through to develop a marketing plan.
