SMM 1.1.

• Marketing management is concerned with how you will create value for your customers.
• Strategic Planning is the managerial process of creating and maintaining a fit between the organisation’s objectives and resources and the evolving market opportunities.
• The strategic planning process are the steps that you go through as your company to determine:

  • the direction of your company (VISION)

  • what you're going to do and for whom (MISSION)

  • how to measure it and guide your strategy to get to

  where you want to be (GOALS)
• Strategy formulation refers to

  the process of choosing the

  most appropriate course of

  action for the realisation of

  company’s goals and objectives

  and thereby achieving the

  company vision.
• Market Analysis Describes Targets

  (WHO & WHY)
• Marketing Plan Describes Tactics

  (HOW)
• Key performance indicators (KPIs) refer to a set of quantifiable measurements used to gauge a company's overall long-term performance.
• Marketing plan contents: 1. Executive summary, 2. Situation Analysis, 3. Products and services, 4. Market strategy, 5. Sales forecast, 6. Budget determination, 7. Marketing organization, 8. Action plan and implementation, 9. Communication plan, 10. Tracking, evaluation and control