Question One'Philip Kotler (1994) claimed 'Marketing is a strategic process'. Using definitions of marketing by the Charted Institute of Marketing (CIM) and the American Marketing Association (AMA) demonstrate your understanding of this term. Suggest how these two views mirror this view by Philip Kotler.
The definition provided by the Charted Institute of Marketing is;'Marketing is the management process which identifies, anticipates and supplies customer requirements, efficiently and profitably'The definition provided by the American Marketing Association is;'Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organisational objectives'Marketing is a strategic process as the organisations marketing plan is a process which is developed by the organisations hierarchy which intends to plan the organisational objectives and goals for a period beyond the next fiscal year.
The 'Top Down' strategic model was developed in the 1970's and was adopted by many large organisations.
The model included a strategic planning process in which top executives would formulate the firm's strategy, and then communicate it down to the lower levels of the organisation for implementation.
The process is mainly applicable to strategic management at the business unit level of the organisation. For large organisations, strategy at the corporate level is more concerned with the management of the business portfolio. For example, corporate level strategy involves decisions about which business units to grow, resource allocation among the various business units and how to take advantage of the synergies among the business unit. From this each business unit will have objectives and goals that they need to achieve to contribute towards the corporate strategy, this ensures that everyone in the organisation plays their part towards the company's 'mission'.
As defined in the definitions of the CIM and...