Market oriented strategic planning is the managerial process of developing & maintaining a viable fit between an organization objectives/ skills/ resources and its changing market opportunities.
Aim: Shape/ Reshape companies business & products so that they yield targeted profits and growths.
Strategic Planning has Action Areas :
– Managing companies business as an investment portfolio.
– Assessing each business activity by considering market’s growth rate & companies position & fit in that market.
– Developing a strategy (game plan) to achieve long run objectives.
Strategic Planning takes into account that large organizations consist of four organizational levels.
– Corporate level.
– Divisional level.
– Business unit level.
– Product level.
- Corporate HQ creates strategic plan to guide the whole enterprise to a profitable future.
- Each division creates a divisional plan covering the allocation of funds to each business unit within division.
- Each business unit develop a business unit strategic plan to carry that business to a profitable future.
- Each product level develops a marketing plan to achieve its objective. In its product marketing.
- Marketing plan made up of
- Strategic Marketing Plan.
- Tactical Marketing Plan.
Strategic Marketing Plan develops / outlines.
– Broad marketing objective.
– Strategy based on analysis of current market situation and opportunities (based on STP).
Tactical Marketing Plan outlines specific marketing plan. It may include
– Advertising
– Merchandising
– Pricing
– Distribution Channels (4 P’s of Marketing)
– Product Variants
Read More – Arthur D Little Model for Nature of High Performing Business
Without Management technology will be rest less Strategic planning is required for every technology to it make productive…
Philip Kotler and Marketing are very well put forward in this entire webpage… Thanks for this..
Can someone tell me sources to read about Strategic Planning, apart from Philip Kotler..