Corporate and Business Unit Planning

What is one of the key areas marketers must prioritize in strategic planning?

At what level does corporate headquarters design a strategic plan?

Which planning activity focuses on the company’s foundational purpose?

What must each business unit develop to ensure a profitable future?

Which of the following is NOT a primary planning activity for companies?

Corporate and Business Unit Planning

Marketers prioritize strategic planning in three key areas: managing company businesses, assessing market growth and company position, and developing a business model.
Companies develop a game plan for each business unit to achieve long-term objectives.
Marketing planning and management occur at three levels: corporate, business unit, and specific offering.
Corporate headquarters creates a strategic plan for the whole enterprise, deciding resource allocation and business start-ups/eliminations.
Each business unit makes plans for its own profitability.
Each market offering has a marketing plan to meet its own objectives.

Key Planning Activities

Companies perform four planning activities:
- Defining the corporate mission
- Building the corporate culture
- Establishing strategic business units
- Assigning resources to strategic business units

Defining the Corporate Mission

A company's mission statement outlines its purpose, e.g., making cars, lending money, or providing lodging.
Missions may evolve to respond to new opportunities or market conditions. (e.g. Amazon changing focus from online books to broader aspirations).

This quiz explores the essential aspects of corporate and business unit planning, including strategic planning, market assessment, and business model development. It delves into the various levels of marketing planning and the crucial activities that define a company's mission and culture. Test your knowledge on how companies achieve profitability and resource allocation.