Explain how an organizations marketing mix is related to its overall strategic plan?

The Marketing Mix is typically represented by the 4 – P's:

1. Product (goods or services provided)
2. Price (pricing and profit strategy for product)
3. Place (distribution plan – channel strategy)
4. Promotion (advertising, selling, publicity, etc.)

A company's strategic plan involves defining objectives and developing strategies to reach those objectives. The Marketing Mix (above) are critical strategies for reaching out to customers and achieving business revenue, growth, market penetration and share as well as profitability objectives.

The strategic plan defines the business objectives and the marketing mix embodies the chosen external strategies and tactics that will drive the organization to the achievement of those goals.

contemporary issues that are shortening the strategic planning cycle?

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