Marketing Strategy 2 - Jones & Bartlett Learning

41 CHAPTER2 Marketing StrategyLearning ObjectivesLearning ObjectivesAfter reading this chapter, you should be able to: Understand the scope of strategic Marketing planning Identify broad organizational market Strategy alternatives Describe the value of alternative portfolio models Appreciate the factors that affect the level of competitive intensity within an industry Understand the essential components of Marketing Strategy formulationnStrategic Planning ProcessIn order to respond to the opportunities and challenges of the marketplace, most or-ganizations engage in a process of strategic planning. Strategic planninghas been de-fined as a process that describes the direction an organization will pursue within itschosen environment and guides the allocation of resources and strate-gic planning process is shown in FI GURE 2-1as comprising four steps.

46 CHAPTER 2 Marketing Strategy Situational Assessment The situational assessment is an analysis of the or ganization’s environment and of the organization itself. This process is referred to as the SWOT analysis(so named be- cause it examines the Strengths and Weaknesses of the organization, as well as the

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