Strategic Marketing Module 1

According to Lamb, Hair, and McDaniel (2018), What is a strategic plan?

• Is the process by which management creates and maintains a balance between objectives, resources, and market opportunities.

• A list of objectives and goals that a company wants to achieve for the future.

• A formal document that details how a company should manage its resources to maximize its profits.

• It is a list of specific steps that a company must follow in a certain period of time to achieve its objectives.

Strategic marketing management answers two essential questions:

• What are the objectives that we must achieve in a short time like a month?
  
  What is the best strategy to achieve our most important goal?

• How much money should we spend on advertising to reach our goal?
  
  What team should we hire to carry out our strategic plan?

• • What is the main activity of an organization at a given time?
    

  • How will it achieve its goals?

• How can we reduce our operating expenses to achieve our goals?
  
  How can we increase our sales by 20% in a single month?

The nature of strategies is that they are conceived for the ___ term.

• Long

• Short

For this purpose, large companies can manage several separate businesses called:

• Free Trade Agreements (FTAs).

• Company Estrategic Divisions (CEDs).

• Departmental Working Groups (DWGs).

• Strategic Business Units (SBUs).

“___ is the set of activities, institutions, and processes for creating, communicating, delivering, and exchanging offers of goods and services that result in value for clients, consumers, stakeholders, and society at large”.

Marketing entails the delivery of solutions for each of the so-called 4p...

• Product
  Price
  Publicity
  Place

• Product
  Price
  Promotion
  Place

• Product
  Public
  Price
  Promotion

• People
  Price
  Processes
  Promotion

While the company's overall objectives are measured by financial indicators, marketing objectives are measured by indicators such as the following:

• Distribution Rate
  Brand awareness
  Market Share
  Brand preference
  Innovation rate

• Market Score
  Population Race
  Brand awareness
  Brand preference
  Innovation rate

• Distribution Rate
  Brand awareness
  Martin Scorsese
  Brand preference
  Innovation rate

• Brand preference
  Innovation race
  Market Share
  Distribution Rate
  Brand awareness

According to Lamb, Hair, and McDaniel (2018), these are elements of the marketing plan except:

• Situation or SWOT analysis

• Company Mission Statement

• Marketing Stategy

• Population Control

In business terminology, the concept of current situation refers to:

• Financial results of a company in a previous period.

• An analysis that does not necessarily have to consider external factors that may be affecting the company's performance.

• The concrete environment and circumstances in which the business is immersed at a given point in time.

• Static situation that does not change over time.

What is holistic marketing?

• It is a strategy that considers a business as a whole and not divided into parts or sectors.

• It focuses on the promotion of products and services through all available channels.

• It involves the use of all marketing techniques to achieve a sale.

• It focuses on achieving the greatest market coverage available.