Write a well-developed answer and explanation. (Principles of Marketing) 1. Defi

Question

Write a well-developed answer and explanation. (Principles of Marketing)

1. Define strategic business units (SBUs)

2. Explain why implementation, evaluation, and control of the marketing plan are necessary.

3. Identify several techniques that help make strategic planning effective.

Write a well-developed answer and explanation. (Principles of Marketing)

1. Define strategic business units (SBUs)

2. Explain why implementation, evaluation, and control of the marketing plan are necessary.

3. Identify several techniques that help make strategic planning effective.

Explanation / Answer

Strategic business unit is also known as SBU. It works as an independent entity in an organization with their own mission and vision and direction. It has its own unit in an organization and report directly to the head office of the organization regarding status and performance.

             Advantages of SBU are:-

Implementation: - Marketing is the important part of any business without marketing department any businesses cannot achieve their goal of earning more and more profit. For that marketing manager make plan is known as marketing plan and it is necessary to implement after making plan in a proper way with adequate resource and valuable skill employees. If your team don’t know how to implement the plan than there is no use making good plan for your businesses. If there is mismatch in implementing than it cause lose (lose of profit as well as business resource). For that reason implementation of the marketing plan is necessary.

Evaluation: - After implementation of marketing plan next step is evaluation of that plan. Evaluation in marketing plan is necessary to see the result of your plan is whether working on right direction or not. Evaluation of your marketing plan can be done in two ways quantitative and qualitative. In quantitative its include Rate of return, Sales number, number of customer reach and amount earned. And qualitative evaluation includes customer satisfaction, expansion, partner response, competitor response.

             If result is not up to mark due to any reason because market future is uncertain than marketing plan should be change immediately and if result is up to mark than it should be remain for future use. That is the reason for evaluation of marketing plan is necessary.

Control: - Control is the last but not least step of any plan or any process. And in marketing plan and after implementation and evaluation, controlling is very important process. During making plan benchmark is set it is also called goal and in controlling process manager see whether that goal are achieved or not if not than appropriate action should be taking in controlling process. That’s why control is necessary for marketing plan.

There are several techniques that help in making strategic planning effective are as follows:-

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