Control System

In: Business and Management

Submitted By lamvu
Words 363
Pages 2
Strategic International Marketing
Week 4: Strategic Market Planning 1. Define marketing planning and strategic differentiation
-Marketing Planning: process by which the organization attempts to understand the marketing environment, and the needs and wants of customers while recognizing that competing organization also serve the market.
>> Also mean recognizing the organization’s strength and weakness in serving customers. * Consist of a number of stages: an assessment of existing product markets, preparing a detailed financial statement, reviewing the market situation… * Represented by 3 perspective: * Investment perspective * A financial perspective * Market perspective 1. Market perspective: concerned with demand and supply as effecting the market for the value under consideration.>>> leading to a set of receipts and costs 2. Financial perspective: profit contributes to the organization’s dividends and retained earnings which indirectly contribute to the funds available for investment. 3. Investment perspective: allocation of resources among various uses such as physical plant and equipment, research and development and investment in market.
>>> 3 perspective are intimately linked; represent an interlocking management system related to various market.

-Strategic differentiation:
- In order to become successful companies, the leader must invest in the market; also invest in people to ensure that they are capable of managing in different cultures and under different political regimes.
- Must also invest heavily in adapting their existing products and services and in developing new products and services specifically for new and challenging market.
>>>> Its mean seeking to differentiate themselves strategically from competitors. >>> More specifically, providing new customer…...

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