Digital Marketing - Ch6: Planning your Digital Marketing Strategy

What is SWOT analysis?

A framework used to evaluate a company's Strengths, Weaknesses, Opportunities, and Threats to assess its competitive position.

What does SMART stand for in goal setting?

Specific, Measurable, Attainable, Realistic, Time-bound.

What is a mission statement?

A statement that describes the current state and purpose of a business

What is a vision statement?

An expression of a company's desired future state.

What is Vision-Based Planning?

A strategic approach that involves creating a vision and following a structured process to achieve it.

What is Real-Time Planning?

A flexible planning model that adapts to changing circumstances and lacks a strict structure.

What are the three key questions for marketing strategy?

1. Where are we now? (Situational analysis - SWOT)
2. Where do we want to get to? (Goal - SMART)
3. How do we get there? (Strategy - 4Ps)

What are the three Phased Approaches to planning?

1. Calendar-Based Phasing
2. Theme-Based Phasing
3. Business-Based Phasing

What are objectives?

Specific, quantifiable milestones that lead toward achieving broader goals.

What are strategies?

Specific actions taken to meet objectives, detailing how to achieve the set goals.

What is an action plan?

A detailed outline of tasks needed to implement strategies and achieve objectives.

What are the three levels of strategy?

1. Corporate Strategy
2. Business Strategy
3. Functional Strategy

What is greenwashing?

The practice of making misleading claims about the sustainability of a product or service to appear more environmentally friendly.