WHAT IS THE DIFFERENCE BETWEEN PLANNING, STRATEGIC PLANNING, AND MA...

1. What is the difference between planning, strategic planning, and marketing planning?

ANS:

Planning is the process of anticipating future events and determining strategies to achieve

organizational objectives in the future.

Strategic planning is the managerial process of creating and maintaining a fit between the

organization's objectives and resources and the evolving market opportunities. The goal of strategic

planning is long-run profitability and growth. Thus, strategic decisions require long-term commitments

of resources.

Marketing planning involves designing activities relating to marketing objectives and the changing

marketing environment. Marketing planning is the basis for all marketing strategies and decisions.

Issues such as product lines, distribution channels, marketing communications, and pricing are all

delineated in the marketing plan.

PTS: 1

REF: 25, 30-31

OBJ: 02-1 | 02-3

TOP: AACSB Communication

KEY: CB&E Model Strategy | CB&E Model Marketing Plan

MSC: BLOOMS Level V Synthesis