Strategic Planning
As defined in the text Marketing an Introduction by Gary Armstrong and Philip Kotler strategic planning is the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities. The four steps of the strategic planning process include; defining a clear company mission, setting supporting objectives and goals, designing a sound business portfolio, planning and coordinating marketing and other functional strategies. ... The last process is planning and coordinating marketing and other functional strategies where each unit or business inside the company needs to develop marketing plans.