Domain 2: Marketing Planning Flashcards
0
Q
What is a strategic plan according to time frame?
A
a three to five year roadmap, with the marketing business plan being a one year increment of the strategic plan.
1
Q
What does strategic planning do for an organization?
A
Aligns leadership and focuses the firm’s direction, ands looks at market cycles and emerging trends to chart a course for the future.
It links human and financial capital to the business strategically.
2
Q
What are the 2 major components of a strategic plan?
A
The initial planning sessions, yielding a planning document, and (most importantly) implementation of the plan over a few or several years (thru accomplishment of goals and milestones)
