Accounting MRK108 Lecture Notes - Lecture 2: Business Plan, Strategic Planning, Peanut Butter
20 Dec 2016
School
Department
Course
Professor
Document Summary
Strategic marketing -> outline: for goals and objectives. What is a marketing plan: planning: process of anticipating future events, determining strategies to achieve future objectives. Examples: want to go from company #3 to #1, need to sell #100 more units, marketing, production, human resources, plan to sell 1000 units/week, need to fix marketing strategy. Mission statement: goals and objectives but very broad. Implementing: test, changes needed, marketing plan, investment tool, ask people for money = proof you know what your doing. Show them that you put in the time. Mission statement: couple sentences (no more, broad statement, example. Star trek -> boldly go where no one has gone before. Light bulbs co. -> light up the world: what the company is all about. Strategic business unit (sbu: focus on a single product, kraft foods. Criteria for stating good marketing objectives: 1 realistic, 2 measurable, 3 time specific. Can look at competition, to understand why they are better or worse.
