What are the key elements and the purpose of strategic marketing planning? What sort of problems are likely to result from a lack of marketing planning? Provide illustrative examples.
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When a company engages in strategic marketing planning, they do so ensuring that all necessary elements are met. The main elements of strategic marketing planning include (1) identifying the opportunities that are present, given the company's current resources or ability to obtain needed resources, (2) analyzing the target markets to gain a more comprehensive understanding of the target market potential, and (3) developing a position for the strategic marketing strategy. Based upon these elements, management is then able to execute a strategic marketing plan.
The main purpose of the strategic marketing plan is to tie the marketing plan in with the goals, objectives, and mission of the company. By doing so, it helps to ensure that the company remains focused. Being focused is the most straightforward way to approach a successful marketing strategy, which includes both a ...
Solution Summary
This solution discusses the key elements and purpose of strategic marketing planning. This solution also discusses the problems that are likely to result from a lack of marketing planning. Illustrative examples are provided.
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... to any other product on the market aiming to ... that outlines frequency in markets placements and ... The solution assists with creating a strategic marketing plan. ...
... The next step in your strategic marketing plan is to determine ... firm to develop an appropriate marketing strategy ... these are the best ways to analyze the market. ...
...Marketing strategy is one aspect of the Strategic Planning (ie, Business plan... that though, the general role of all marketing strategies is to market and sell ...
... outlines the ability to go to market with a successful and strategic plan. ...Marketing objectives include goals for sales, profits, market share (as ...
... goals and objectives and this includes marketing related ones such as an increased market share ... of the results of the implementation of the strategic plan. ...
... strategy is positioning Aramark for holding the leadership role in its market within the ...Strategic planning for global markets...Marketing Review, (4) 4, p369-384 ...
... of a successful organizational business strategic plan. ... other organizations use in their strategic marketing planning. ... in assessing the market for DeerCrest's ...
... Moreover, the local partner knows Strategic Planning Process - 5 -. the market and its consumers, competitors and the ... Thus, if the initial plan fails, the ...
... steps to achieve the above mentioned strategic plan will start ... look out for improving its market share and ... and China by pursuing aggressive marketing and sales ...
