Marketing Planning Lec 2 Flashcards Preview

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Flashcards in Marketing Planning Lec 2 Deck (7)
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1

Marketing Planning vs Marketing Strategy define:

Marketing Strategy
Decisions on
Compete in which market
What to produce
Whom you target

While

Marketing Planning
Situation analysis
External & internal
Strategy formulation

2

What is SBU level

Strategic Business Unit

SBU catered to different product categories
& customer needs

Focus on finances
Investments, debt, expenses

3

Customer-Focused Planning

Planning focus on
Gather & use customer data
Understand customer loyalty
Prevent customer attrition
Develop long-term relationships

4

Balanced Performance Scorecard – 4Pillars what are they?

FInancial Perspective, Customer Perspective, LEarning and Growth Perspective, Internal Process Perspective

This transaltes strategies into daily operational terms and align functions unites and process with strategies

5

What is Situational analysis?

In-depth analysis of firm’s internal and external environments

6

What is Marketing Plan?

Written document providing the blueprint of a firm’s marketing activities
Explains how the organization will achieve its goals and objectives

7

Balanced Strategic Planning

Aligns four complementary perspectives
Financial
Customer
Internal process
Learning and growth