ECON344 Lecture Notes - Lecture 2: Marketing Mix, Marketing Performance Measurement And Management, Market Segmentation
20 Sep 2017
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Industry: groups of firms that offer similar g/s: the foundation of a strategic company i understanding its industry, strategy: orga(cid:374)izatio(cid:374)"s lo(cid:374)g-term course of action to deliver a unique customer experience while achieving its goals. Every organization must develop strategies to help focus and direct its efforts to accomplish its goals. Strategy in visionary organizations: for visionary organizations they must specify, organizational foundation (why they exist, core values: fundamental, passionate, and enduring principles that guide its conduct over time. How can the company deliver on those requests: must also consider competitors can be from multiple different related industries and the market becomes more saturated. Growth strategies use 2 techniques: business-portfolio analysis and market-product analysis. Monitoring/tracking strategic performance: marketing dashboard: visual computer display of the essential information related to achieving a marketing objective sho(cid:449)s graphi(cid:272) displa(cid:455)s of kpi"s li(cid:374)ked to produ(cid:272)t li(cid:374)es.
