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.
... be used in the development of the strategic marketing plan. ... What is 'cool' in the market these days ... Remember, marketing plans are easy if you first define your ...
... 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. ...
...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. ...
... The tasks for the strategic plan of Precision ...planning and formulating sales and marketing plan. ... for core business functions, conducting market research studies ...
... in targeting all segments of the market, it is ... the number of cross-industry strategic alliances and ... a well organized system of business and marketing strategies ...
... opportunities and threats come from the market as a ... to various aspects such as marketing, finance and ... Most strategic plans must be updated every three to five ...
... of a successful organizational business strategic plan. ... other organizations use in their strategic marketing planning. ... in assessing the market for DeerCrest's ...
