The Importance of Strategic Planning for Marketing

Discuss the importance of strategic planning for marketing.

Analyze the characteristics of an effective mission statement. Outline the five main components of the marketing plan. Explain three tools and techniques for the situation analysis: market summary, SWOT analysis, and competition analysis.

Explain the basic tools and techniques of marketing strategy: segmentation, strategic direction, and the marketing mix. Discuss the strategic decisions involved in reaching international consumers. Describe the use of four key marketing analytics:

• return on marketing investment (ROMI),
• revenue analysis,
• market share analysis,
• profitability analysis.