Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Transcribed Image Text:Define the following:
Strategic planning
mission statement
business portfolio
Market penetration
Expert Solution
Step 1
Strategic planning:
Strategic planning refers to the way by which an organization defines its strategy and the direction of its business. The process of strategic planning helps in organisation to decide on the allocation of resources for pursuing the strategy.
It helps an organisation to view its goals. It creates a process in which the future of the company is determined.
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