mkt100 Chapter Notes - Chapter 2: Cash Flow, Tums, Strategic Planning
Document Summary
Chapter 2 - company and marketing strategy: partnering to build customer relationships. Strategic planning developing a fitting strategy between the company goals and abilities, and its changing marketing opportunities. Adapting the firm to take advantage of opportunities in ever-changing environment. Corporate level finding overall purpose/mission setting company"s objectives/goals designing business portfolio. Business unit, product, and market level planning marketing and other funtional strategies. Company purpose should be clear (cid:862)what is our (cid:271)usi(cid:374)ess? (cid:863) (cid:862)who is the (cid:272)usto(cid:373)er? (cid:863) (cid:862)what should our (cid:271)usi(cid:374)ess (cid:271)e? (cid:863) Company turns its mission into detailed supporting objectives. Marketing strategies/programs must be developed to support these marketing objectives. Guided by mission statement and objectives, management must now plan its business portfolio. Business portfolio collection of business and products that make up the company. Company analyzes current business portfolio and determines which business should receive more, less or no investment. Then, it shapes its future portfolio by developing strategies for growth or downsizing.
