Marketing Planning/ Chapter 18 Flashcards
1
Q
what are the key planning questions?
A
- where are we now- business mission (SWOT analysis)
- where would we like to be ?-marketing objectives
- how do we get there?- core strategy
- are we on course? - control
2
Q
what are mission statements influenced by?
A
- customer groups being served
- macroenvironmental change
- background of the company
3
Q
what should an effective mission statement be based on?
A
- a solid understanding of the business
- enabling success
- motivation of the leader
4
Q
what is the internal marketing audit checklist?
A
- strategic issues analysis
- operating results (by product, customer, geographical region)
- marketing structures
- marketing systems
- marketing mix- effectiveness
5
Q
what are the strategic objectives?
A
- build
- hold
- harvest
- digest
6
Q
what is the core strategy?
A
-target market (market segment selected as a focus for a campaigns marketing mix)—->
competitive advantage )achievement of superior performance through differentiation- provide superior customer value)—-> competitive targets ) organisations against which a company chooses to compete directly)
7
Q
what are the advantages of having a core strategy?
A
- clearly defines taget customers and their needs
- creates a competitive advantage
- incurs acceptable risk
- internally consistent
- derived to achieve product market objectives
8
Q
what are the rewards of marketing planning?
A
- consistency
- competitive advantage
- resource allocation
- stimulates achievement
9
Q
what are problems in making planning work?
A
- political
- opportunity cost
- culture
- personalities
- lack of knowledge and skills
- reward systems
- information
10
Q
how do you handle marketing planning problems?
A
- senior management support
- training
- clear communication
- marketing the planning system to the culture of the business
