Q.
a) Define "Strategic Planning" (5 marks)
b) Explain the role of marketing in company's strategic planning to create and deliver customer value. (15 marks)
(20 marks, 2012 Q1)
A.
a) "Strategic Planning" is the managerial process of developing and maintaining a strategic fit between the organisation goals and capabilities and its changing marketing opportunities (and environment). It involves the developing of a clear company mission, supporting objectives and goals, a sound business portfolio and co-ordinated functional strategies (Kotler, 1986, pg 58).
The steps in strategic planning process are shown below:
b) Role of marketing in strategic planning so as to achieve customer value is understood as deploying marketing analysis in building a strategic plan to achieve market satisfaction. Please click here to read further.