Marketing Planning Lec 2

Question 1

Marketing Planning vs Marketing Strategy define:

Answer 1

Marketing Strategy
Decisions on
Compete in which market 
What to produce
Whom you target

While

Marketing Planning
Situation analysis
External & internal
Strategy formulation

Question 2

What is SBU level

Answer 2

Strategic Business Unit

SBU catered to different product categories
& customer needs

Focus on finances
Investments, debt, expenses

Question 3

Customer-Focused Planning

Answer 3

Planning focus on
Gather & use customer data
Understand customer loyalty  
Prevent customer attrition
Develop long-term relationships

Question 4

Balanced Performance Scorecard – 4Pillars what are they?

Answer 4

FInancial Perspective, Customer Perspective, LEarning and Growth Perspective, Internal Process Perspective

This transaltes strategies into daily operational terms and align functions unites and process with strategies

Question 5

What is Situational analysis?

Answer 5

In-depth analysis of firm’s internal and external environments

Question 6

What is Marketing Plan?

Answer 6

Written document providing the blueprint of a firm’s marketing activities
Explains how the organization will achieve its goals and objectives

Question 7

Balanced Strategic Planning

Answer 7

Aligns four complementary perspectives
Financial 
Customer
Internal process
Learning and growth