Title: Strategic Planning and the Marketing Process
1. Explain what is meant by the term the marketing concept. Under this concept, what is the principal aim of marketing?
2. How is the concept of strategic planning related to marketing? Provide a practical example to depict this relationship.
3. What is a mission statement? Provide a practical example. What are the basic questions that must be answered in a mission statement? Can you think of any others that should be addressed?
4. Describe several strategies that firms can choose among. What do you think the strategy should be for McDonalds if it wants to grow in the U.S.?
5. What are the basic elements of a situation analysis? How can this approach to strategy lead to increased competitiveness? Provide a practical example.