In today's competitive marketplace, organizations need a strategy to help them stay focused. In setting the course for the company, management needs to identify where they are now and where they want to go (Kerin, 2004). Once these questions are answered, Kerin suggests that secondary questions emerge on resource allocation, converting the plan into action, and revising the plans, if necessary, the basis of the Strategic Marketing Process.
The Planning Phase
Strategic marketing planning examines three areas: their own business, competitors and the current business environment. …
