Strategic Planning Using a Market Orientationi
Definition: Strategic planning is the process through which an organization realizes its
mission and objectives. It uses its skills and resources to monitor the market and seize
opportunities. It constantly adjusts its practices and policies monitoring its portfolio of
businesses to more efficiently and effectively provide a return to its shareholders.
Four Levels:
1.
2.
3.
4.
Corporate
1.
2.
3.
4.
5.
Corporate
Division
Unit
Product
Sets overall company strategy
Defines mission and objectives
Designs business units
Allocates financial and human resources to units
Expansion, acquisition of products and businesses
Business unit strategies
1. Set and define mission
2. Set goals
3. Analyze external threats and opportunities
4. Analyze internal strengths and weaknesses
5. Formulating strategy and potential alliances
6. Create and implement support programs
7. Do market research on activities
Marketing Process
1. Analyze market
2. Develop marketing strategy
3. Developing marketing mix
4. Develop communication mix
Marketing or Business Plan
Each unit develops a business plan strategy for their product levels
Plans include:
1. Executive Summary
2. Abstract or overview of current marketing scenario
3. Analysis of opportunities and threats
4. Financial plan
5. Marketing objectives including strategic plan
6. Income and expense statement
7. Milestones
i
Based on Philip Kotler’s Marketing Management, 1997 Prentice Hall pp. 62-107
Word Doc/Fall2002Eng 9 Nin Strat