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BMA351 MARKETING MANAGEMENT

STUDY GUIDE – WEEK 2
STRATEGIC MARKETING PLANNING
INTRODUCTION
This week you will be introduced to the concepts of strategic planning and the strategic planning process. Important in this discussion is an understanding of the hierarchies that exist within firms and within the planning process. Last week’s consideration of the differences between strategic and tactical is useful too. You will also be introduced to idea of marketing control, which is an important element you will need to address in Assessment Item 2 – Strategies & Implementation.

Resources
Lecture slides (download or view PowerPoint file)
Recorded MyMedia lecture – Week 2
Prescribed text: Chapter 2
MyLO: Readings/Strategic marketing planning

Acknowledgement:
Sections adapted from Ferrell, OC & Hartline, MD 2010, Marketing strategy, 5th edn. Cengage Learning, Mason, OH.
© 2010 Cengage

1

LECTURE OUTLINE
Strategic Planning and the Strategic Planning Process
The majority of organisations operate according to a formal plan. Formal planning can yield many benefits for all types of firms. It encourages senior management to think ahead systematically and refine its objectives and policies. Sound planning helps the company to anticipate and respond quickly to environmental changes, and prepare for sudden developments more effectively.
Whether at the corporate, business unit, or functional level, the planning process begins with an indepth analysis of the organisation's internal and external environments—known as a situation analysis.
(We will cover the situation analysis in more detail in later weeks.) The next step in the process is the development of a SWOT: an analysis of the above environments that results in a number of Strengths,
Weaknesses, Opportunities and Threats (SWOT) for the organisation. The SWOT is a key part of the
marketing

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