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7 Cards in this Set
- Front
- Back
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Why is planning important |
It allows a company to present a clear view to consumers of who they are. |
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Detail the three levels of business planning |
Strategic planning - A managerial decision-making process that matches an organisation's resources and capabilities to it's market opportunities for long-term growth and survival. Top managers define the companies purpose and specify what the company wants to achieve over 5 years or so. Functional Planning - Planning so called because it is carried out by the various functional areas of the company, such as marketing, finance or HR. Operational Planning - focuses on the day to day implementation of functional plans. Undertaken by first line managers. |
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Detail the 5 steps in the strategic planning process. |
1. Define the mission 2. Evaluate the internal and external environments 3. Set SBU/organisational objectives 4. Establish the business portfolio. 5. Develop Growth Strategies. |
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Steps of marketing planning |
1. Evaluation of internal and external environments (SWOT PESTE) 2. Set objectives (SMART) 3. Select target market 4. Marketing mix strategies 5. Measure and control. |
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Corporate culture is what |
The internal environment includes all controllable factors within an an organisation that influence how wel the organisation operates. Can include technologues, facilities, reputation and quality, and employees. Ultimately much of the internal environment of a company is related to corporate culture. |
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How and why do marketers scan an organisations external environement |
Because external factors consist of elements outside an organisation that may affect it positively or negatively. Such as the overall economy, competition and laws and regulations. |
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Operational planning
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is undertaken by first line managers like sales managers and focuses on the day to day execution of the marketing plan. Often covers shorter periods of time and details specific activities and who will be responsible for undertaking them |
