MKT 101 Chapter 2: Company and Marketing Strategy
21 Jan 2019
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2: company and marketing strategy (partnering to build customer value and relationships) Markers must work with other departments where they design, produce, market, deliver and support the product. They must work with other companies to create an external value delivery network that serves customers together. Marketing is all about creating customer value and profitable relationships. They must understand their customer needs/wants and that they cannot profitably serve all customers. Strategic planning: process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities. Statement of the organization"s purpose: what it wants to accomplish in the larger environment. Market oriented/defined in terms of satisfying basic customer needs. Business portfolio: collection of businesses and products that make up the company. (fits the company"s strengths and weaknesses to opportunities in the environment. ) Planning: analyze current portfolio and determine which businesses should receive more/less/no investment.
