Strategic Marketing Plan Development - Marketing MO
The overall strategic marketing plan serves as the basis for a series of operating plans necessary to move the organization toward accomplishment of its objectives. At every step of the marketing planning process, marketing managers use feedback to monitor and adapt strategies when actual performance fails to match expectations.
Strategic Marketing Plan - Center for Business Planning
When businesses are small and owner operated there tends to be a high degree of entrepreneurialdrive. Even after the organisation begins to grow, and salaried managers are employed, there may beno appreciable fall in the level of flair, energy and commitment to achieving success, if indeed there isany at all. However, in very large organisations managers can feel divorced from the events anddecisions that are shaping the business. This is particularly the case where the enterprise is highlydiversified. For example, a large enterprise could have interests in say grain trading, fertilizerprocurement, the design and installation of silos, financial advisory services to farmers, the hire oftransportation of bulk commodities, etc. A manager in fertilizer procurement could well feel that he/shehas relatively little effect on overall performance since decisions such as budget allocations and salesand profit targets are dictated and determined by what happens in grain related activities. This is likelyto suppress that manager's search for new and better ways of doing business because he/shebelieves to do so would have relatively little effect and would not be recognised, or rewarded, bysenior management. The concept of a strategic business unit (SBU) was developed as a means ofretaining the vitality of the entrepreneurial spirit by giving management a high degree of responsibilityand autonomy in decision making. The SBU becomes a separate business entity, although stillbelonging to a larger commercial enterprise, having its own defined business strategy and amanagement with direct responsibility for its profits and sales performance.
The net result of opportunity analysis is the formulation of marketing objectives designed to achieve overall organizational objectives and develop a marketing plan. The marketing planning effort must be directed toward establishing marketing strategies that are resource efficient, flexible, and adaptable. The marketing strategy is the overall company program for selecting a particular target market and then satisfying consumers in that segment.
The Marketing Planning Process: 5 Steps - CCI
It locks management into taking a long term perspective when the pressures are to adopt ashort term focus with grave dangers of making strategic errors. The natural tendency is formanagers to devote their time to dealing with the problems and opportunities of today, to theexclusion of consideration of the longer term. Strategic market management usually has a welldefined time-cycle when managers have to submit short, medium and long term plans. Suchcycles instill a discipline that forces managers to devote a minimum amount of time givingthought to future developments.
Course Details - Strategic Marketing Planning
The basic objectives, or goals, of the organization are the starting point for marketing planning. They serve as the foundation from which marketing objectives and plans are built. These objectives provide direction for all phases of the organization and serve as standards in evaluating performance. Soundly conceived goals should be S.M.A.R.T – specific, measurable, attainable, realistic and time-specific.
marketing plan - Small Business Administration
It provides a vertical and horizontal communication and coordination system. Strategic marketmanagement is a vehicle for communicating problems and proposed strategies with precisiondue to its vocabulary and explicit expression of expectations of the future.
Strategic Marketing Planning in International Schools - …
Thus, strategic market management is proactive in that it prepares managers not merely to expectchange but to anticipate it. Moreover it serves as an instrument for making management moreexternally orientated and less insular. Strategic market management also focuses managementattention on the longer term and counters the natural tendency for management time to be totallyabsorbed by today's problems and opportunities.