Bu352 Marketing
Intro to the Strategic Planning
Levels of Strategic Planning in Corporations
- Strategic planning occurs on at least 2 levels: Corporate level and functional level
- Corporate Level Planning: o Company’s top management o Overall direction of the entire company o Business of the company, company’s mission/vision statement, set objectives/goals o Long term directions, updated to respond to changes in the business environment
- Functional Planning: o Functions take some form of planning (HR, marketing, R&D, finance) o Annual plans, 3-5 years
- Strategic Business Units Planning (for companies with different business lines) o Develop plans for products and markets that they serve o Division of company, managed somewhat separately than other business units o Ex. Disney has 4 business units: media networks, parks, studio entertainment, consumer products
Levels of Strategic Planning:
Levels of Planning Scope Duration Strategic Focus
Corporate Planning Entire Firm Long term (5 years) Define the company’s mission
Set company’s goals
Establish business portfolio
Strategic Business Unit (SBU)/Division Planning
(applies only to large firms with more than one distinct line of business) Single SBU within firm Medium to Long term (3 to 5 years) Set goals and establish portfolio of products and markets for the business unit
Functional Planning
Ex. Marketing planning Product Portfolio, single product, brand or market Short term to Medium term (1 to 3 years) Develop marketing plans for specific products, brands, or markets
The Strategic Marketing Planning Process
Strategic Marketing Planning Process: A set of steps a marketer goes through to develop a strategic marketing plan.
Marketing Plan includes: o Analysis of the current marketing situation o Opportunities and threats for a firm o Marketing objectives and strategy specified (4 ps) o Actions programs
- 3 phases of the strategic planning process (making marketing plan): o Planning,
Levels of Strategic Planning in Corporations
- Strategic planning occurs on at least 2 levels: Corporate level and functional level
- Corporate Level Planning: o Company’s top management o Overall direction of the entire company o Business of the company, company’s mission/vision statement, set objectives/goals o Long term directions, updated to respond to changes in the business environment
- Functional Planning: o Functions take some form of planning (HR, marketing, R&D, finance) o Annual plans, 3-5 years
- Strategic Business Units Planning (for companies with different business lines) o Develop plans for products and markets that they serve o Division of company, managed somewhat separately than other business units o Ex. Disney has 4 business units: media networks, parks, studio entertainment, consumer products
Levels of Strategic Planning:
Levels of Planning Scope Duration Strategic Focus
Corporate Planning Entire Firm Long term (5 years) Define the company’s mission
Set company’s goals
Establish business portfolio
Strategic Business Unit (SBU)/Division Planning
(applies only to large firms with more than one distinct line of business) Single SBU within firm Medium to Long term (3 to 5 years) Set goals and establish portfolio of products and markets for the business unit
Functional Planning
Ex. Marketing planning Product Portfolio, single product, brand or market Short term to Medium term (1 to 3 years) Develop marketing plans for specific products, brands, or markets
The Strategic Marketing Planning Process
Strategic Marketing Planning Process: A set of steps a marketer goes through to develop a strategic marketing plan.
Marketing Plan includes: o Analysis of the current marketing situation o Opportunities and threats for a firm o Marketing objectives and strategy specified (4 ps) o Actions programs
- 3 phases of the strategic planning process (making marketing plan): o Planning,