What is market-oriented strategic planning?
What is Market-Oriented Strategic Planning? It is “the managerial process of developing and maintaining a viable fit. between the organization’s objectives, skills, and resources and its. changing market opportunities”.1.
Why is market-oriented strategic planning important?
A marketer must seek ways of maintaining a balance between his objectives, skills, and resources, and the dynamic environment. Strategic planning helps him to achieve this. Therefore, knowledge of strategic planning, implementation, and control is necessary for a marketer to survive in the changing environment.
What are the 2 types of marketing planning?
The two main types of marketing strategy are:
- Business to business (B2B) marketing.
- Business to consumer (B2C) marketing.
What is meant by market oriented strategic planning and at which level in the company should this planning begin?
Market oriented strategic planning is the managerial process of developing & maintaining a viable fit between an organization objectives/ skills/ resources and its changing market opportunities. Aim: Shape/ Reshape companies business & products so that they yield targeted profits and growths.
What are the 4 marketing orientations?
Understanding Marketing Orientation
- Sales orientation.
- Market orientation.
- Production orientation.
- Societal orientation.
What is marketing by Kotler and Armstrong?
Kotler, Armstrong, Saunders and Wong, (2001:5), define marketing as: “A social and managerial process by which individuals and groups obtain what they need and want though creating and exchanging products and value with each other.”
What are the three main components of a strategic marketing plan?
With that in mind, a “brilliant marketing plan” will have these three components:
- Messages that potential customers find relevant and timely.
- Measurable vehicles for disseminating those messages.
- Methods that easily and profitably convert prospects into customers.
What is the difference between strategic planning and marketing planning?
An overall strategic plan might outline broad objectives for marketing; the marketing plan would detail more specific objectives for the marketing department to monitor and report on.
What is corporate and division strategic planning?
CORPORATE AND DIVISION STRATEGIC PLANNING. Corporate or Company headquarters establish the framework by preparing statements of mission, policy, strategy, and goals, within which the divisions and business units prepare their plans.