Chapter 3: Strategic Planning and Marketing Analysis

Flashcards for chapter 3 of principles of marketing.

SBU

Strategic Business Units

Large, multiproduct firms may have separate divisions called _____________.

strategic business units

Smaller firms may manage their portfolio of ______________, each with their own positions, objectives, resources, managers, and competitiors.

business units

Three levels of business planning

1. strategic planning - done by top-level, corporate

2. functional (market) planning - done by top functional-level management, CMO

3. operational planning - done by supervisory managers, aka tactical plans

Steps in strategic planning

1. define and articulate the mission, vision, and values

2. evaluate the internal and external environment

3. set organizational or SBU objectives

4. establish the business portfolio

5. develop growth strategies

External Environment includes both __________ and ___________.

Macro-Environment (low control) and Micro-Environment

Examples of Macro-Environment

• technology

• economic

• socio-cultural

• political-legal

• demographic

• natural environment

Examples of Micro-Environment

• competitors

• marketing intermediaries

• suppliers

• customers/markets

• publics

• media - traditional and online

• consultants/experts/contractors

Examples of Internal Environment

• employees

• operations, production processes

• unions

• organizational structure

• physicals and technological resources

• stockholders

• organizational culture

• human resources

• company values

SWOT Analysis

• internal

  • strength

  • weaknesses

• external

  • opportunities

  • threats

BCG Matrix

Steps in Market Planning

1. perform a situation analysis

2. set marketing objectives

3. develop marketing strategies

4. implement and control the marketing plan

Product-Market Growth Matrix