Asked by Brady Kelly on Jun 15, 2024
Verified
Which of the following explains the value in strategic planning?
A) An organization comes to understand its markets and its competitors.
B) An organization becomes aware of the changing marketplace environment.
C) Organizational partners are better able to communicate and coordinate activities.
D) Helps managers better allocate time and resources.
E) All of the above.
Strategic Planning
The process of defining an organization's direction and making decisions on allocating resources to pursue this strategy.
Changing Marketplace
Changing marketplace denotes the evolving dynamics and trends in the market environment, influenced by factors such as technology, consumer behavior, and economic conditions.
- Grasp the value of strategic planning and its impact on marketing success.
Verified Answer
PA
Paola ArenasJun 15, 2024
Final Answer :
E
Explanation :
Strategic planning provides multiple benefits, including understanding markets and competitors, awareness of changes in the market environment, improved communication and coordination among partners, and better allocation of time and resources.
Learning Objectives
- Grasp the value of strategic planning and its impact on marketing success.
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