Marketing strategy Flashcards
1
Q
Marketing planning definition
A
Marketing planning is a sequential process involving a series of activities leading to the setting of marketing objectives and the formulation of plans for achieving them.
2
Q
3 advantages of market planning
A
Improved organisational adaption and resource allocation
Competitive advantage
Consistency
3
Q
3 Limitations of market planning
A
Time
Partiality
Latency
4
Q
1.Vision and mission
A
Long term statement of intention
5
Q
2.Market audit/situational awareness
A
Of Macro and Micro environments of industry
6
Q
3.SWOT analysis
A
Strengths and threats can be converted into opportunity
Weakness is converted to strength
7
Q
4.Marketing objectives
A
….
8
Q
5.Core strategy
A
Growth Hold Harvest Divest Niche
9
Q
6.Competitive advantage
A
…
10
Q
- Marketing mix
A
…
11
Q
- Organisation implementation and control
A
…
