BUSI 4220U Chapter Notes - Chapter 2: Resource Allocation, Vertical Integration
Document Summary
Chapter 2: corporate strategy decisions and their marketing implications marketing strategy: corporate scope. Specific as to the customer groups and the product or technologies on which to concentrate. Explicit social values and the firm"s ethical standards. Marketing implications of ethical standards: development of lt exchange relationships, sales and profits, corporate objectives. Smart: specific, measureable, attainable, relevant, time bound. Time frame within which the target is to be accomplished. Customer focused objectives are: satisfaction, retention, loyalty. Multiple corporate objectives conflicting goals can be reconciled through: prioritizing them, break them down into sub objectives and then assign different sub objectives to different business units or products, sources of competitive advantage. Based on unique company resources: cooperative lt relationships with customers, brand name, cooperatives alliances with suppliers, highly developed information systems, extensive market research operations. Marketing implications: converts the company"s unique resources into something of value to customers, development strategy for further growth.