Upon completion of this chapter, the student will be able to answer the following questions:

1. What is the significance of strategic market planning, and what is the role that strategic planning plays in managing change?
2. What is the difference between strategy and tactics, and what is their relationship to an organization's external and internal environments?
3. What is the role of strategic market planning at different levels of an organization?
4. What are the stages in the strategic market planning process, and how can they be applied to a specific marketing situation?
5. What are the key forces in an organization's internal and external environments that can impact performance?
6. What are the basic approaches to attaining sustainable competitive advantage over the long term?
7. How is the strategic planning process related to the challenge of change in a complex and uncertain marketing environment?
8. What is the importance of taking a customer orientation in the creation of a strategic market plan?