MCS 1000 Chapter 19: MCS 1000 - Chapter 19

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Arsenio( Archie) Bonifacio

Document Summary

Strategy: devise and maintain a clearly stated, focused strategy. Execution: develop and maintain flawless operational execution. Culture: develop and maintain a performance orientated culture. Structure: build and maintain a fast, flexible flat organization. Sales response function: relates the expense of the marketing effort to the marketing results obtained. Share points or percentage point of market share, are the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm. Planning: marketing plans that define goals and the marketing mix strategies to achieve them. Implementation: results that describe the outcomes of implementing the plans. Evaluation: corrective action memos, triggered by comparing results with goals, often using the firm"s marketing metrics and dashboards. Long range marketing plans: covers marketing activities from two to five years in the future. Annual marketing plans: developed by a marketing or product manager. Deal with marketing goals and strategies for a product.