Thang

MKTG7501 Marketing

Lecture 2

Week 2
MKTG7501 Strategic Planning and Marketing Planning

Topic Objectives
1.

Explain strategic planning and how it relates to the organisation’s mission, objectives, and goals Identify and define methods for designing the business portfolio, developing growth strategies and planning functional strategies Outline the structure and scope of the marketing plan.

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3.

Strategic Planning
Most organisations operate according to formal plans Managers are often so busy that they have no time for planning Planning can help make sense of a changing environment Organisations failing to plan are planning to fail

The main purpose of strategic planning is to help firms understand how to compete for the future.

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MKTG7501 Marketing

Lecture 2

Strategic Planning Defined
Strategic Planning The process of developing and maintaining a strategic fit between the organisation's goals and capabilities in the light of changing marketing opportunities It relies on developing: Clear company mission Supporting objectives Sound business portfolio Coordinated functional strategies

Strategy Hierarchy
Corporate Level Corporate Strategy • Mission and vision • Objectives • Business portfolio strategy • Resource development • Corporate values SBU Strategy • Business definition • Objectives • Product market portfolio • Competitive strategy • Resource allocation and management

Strategic Business Unit Level

SBU Strategy

SBU Strategy

Functional Level of Marketing Strategy SBU
•Marketing objectives •Product/markets strategies

R&D Strategy Technology Product development

Production and operation strategy

Finance and administration strategy

Human resources strategy

Steps in Strategic Planning
Corporate Level Defining the Company Mission

Defining Company Objectives and Goals Designing the Business Portfolio

Business Level

Planning, Marketing and Other Functional Strategies

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