1. Indicator 1.04 – Employ marketing information to develop a marketing plan
Part 2

2. RELATIONSHIP OF GOALS, TACTICS, & STRATEGIES TO THE MARKETING MIX
Mission Statement – the guiding principle for all business decisions and provides direction for planning.
Goals/Objectives – established on a yearly basis and support the mission statement. Goals must be measurable and have a deadline.
Strategies – are then developed to accomplish goals and it reflects the method to achieve the goal (what to do).
Tactics – are then developed to accomplish the strategies; it is the how things will be done, daily actions.

3. Goal: What is the marketer’s destination?
A goal is an objective you plan to fulfill
SMART:(Specific, Measureable, Action, Realistic, Timebound)
Determine where your firm needs to be by a particular date and agree upon goals
A family-style restaurant wants to increase sales
Agree to increase annual sales by 10% over last years sales
Goal is specific and can be evaluated for success or failure at the end of a given time frame.

4. Strategy: Which route will the marketer take to get there?
A strategy is a plan of action for achieving your goals and objectives.
Create the plan of action (route) believed to be most efficient.
Example:
Strategy #1: add a kids’ menu in order to increase sales to young parents in the area

5. Tactics: What small steps are needed to make it happen?
Tactics are specific actions used to carry out strategies
Marketers carefully choose the short-term actions, or tactics, they use to carry out their strategy.
Tactics must line up with where they plan to go –their goal- and how they plan to get there
They pay attention to every detail – their strategy

6. MARKETING STRATEGIES CHANGE……
What factors cause that change?
Different Goals
Economic conditions change
Political or influence of governmental agencies changes
Demand changes reflecting new consumer attitudes
Environmental changes
Advancements in technology
Actions of Competitors