Strategic Market Management
In Strategic Market Management, marketing plans are designed to respond to market needs and reach marketing objectives. It is common to design multi-year plans that take different scenarios into account, along with a tactical plan presenting specifically detailed procedure information for the current year. A thorough analysis of factors within the internal and external environment- strengths, weaknesses, opportunities and threats (SWOT)- serves as basis of any marketing plan. Following the SWOT analysis, challenging goals are established and business alternatives identified. As soon as the strategy is implemented, progress and developments are carefully monitored.