Describe the Difference Between Strategic Planning,tactical Planning,and Operational Planning

question 9

Essay

Describe the difference between strategic planning,tactical planning,and operational planning.What types of decisions are made at each level? How do these decisions impact international marketing success?

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Definitions:

Substitution Effect

The change in consumption patterns due to a change in the price of goods, leading consumers to substitute one good for another.

Income Effects

The shift in income for either an individual or an economy, and its subsequent effect on the amount of a good or service desired.

Substitution Effects

The change in consumption patterns due to a change in relative prices, leading consumers to substitute one good for another.

Normal Goods

Goods for which demand increases when consumer income increases and vice versa.