MKTG 2209 Study Guide - Quiz Guide: Marketing Mix, Market Segmentation, Value Chain
17 Oct 2017
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Strategic planning: the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities (cid:570). defining the company mission. Mission statement: a statement of the organization"s purpose. Should not be stated as making more sales or profits. Product oriented and market oriented definition (cid:571). setting company objectives and goals. Turn broad mission into detailed supporting objectives for each level of management. Business portfolio: the collection of businesses and products that make up the company. Two steps: analyze its current portfolio and then shape the future portfolio by developing strategies for growth and downsizing. Analyze current portfolio: portfolio analysis; the process by which management evaluates the products and businesses that make up the company. Purpose of strategic planning is to find ways in which the company can best use its strengths to take advantage of attractive opportunities (cid:573). planning marketing and other functional strategies.
