Principles of Marketing (16th Edition)
16th Edition
ISBN: 9780133795028
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 2, Problem 2.1DQ
Summary Introduction
To discuss: The role of marketing in the strategic planning
Strategic planning refers to the evolving and maintaining the strategy fit among the goals of the organization, competencies, and changing opportunities in marketing
Expert Solution & Answer
Explanation of Solution
Role of marketing in strategic planning:
Marketing planning plays a vital role in the organizations strategic planning. This planning occurs in the levels of product, business units and various market levels.
It helps and supports the planning with detailed plans for some specific marketing opportunities.
Roles of marketing in strategic planning occur in various ways. They are as follows:
- It offers a philosophy that is the marketing concept which suggests the organization strategy should spin around to build profitability and profitable relationship among the vital group of consumers.
- It helps the strategic planners to identify the striking market opportunities and assess the potentiality of the firm to take the advantage.
- It designs the strategies to reach the unit’s objectives.
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