Strategic Planning Exam Practice

Jun 29th, 2015
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130 multiple choice and essay questions. Answers are provided

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3.1 The role of marketingDefinition of marketing Marketing is an organizational function and a set of process for creating, communicating, and delivering value to customers as to build strong customer relationships in ways that benefit the organization and stakeholders. satisfying needs and wants through an exchange process: A simple model of the marketing process:Sample marketing process Its relationship with other business:o It is important to realize that marketing cannot be carried out in isolation from the rest of the business.For example:1. The marketing section of a business needs to work closely with operations, research and Development, finance and human resources to check their plans are possible.2. Operations will need to use sales forecasts produced by the marketing department to plan their production schedules.3. Sales forecasts will also be an important part of the budgets produced by the finance department, as well as the deployment of labour for the human resources department.4. A research and development department will need to work very closely with the marketing department to understand the needs of the customers and to test outputs of the R&D section.Marketing objectives1. Goals or targets that must be achieved by the marketing department in order to attain the overall corporate objectives2. Marketing objectives are the aims set out for the organizations marketing programme3. Marketing objectives are about products, sales

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