STC 114 Lecture Notes - Lecture 7: Independent Music, Facial Tissue, Marketing Myopia

• School: University of Miami
• Department: Strategic Communication
• Course: STC 114
• Professor: Kay Snell

Document Summary

The process of determining objectives, deciding on strategies, and implementing the tactics. The business plan directs the operations of the entire company. Strategic business unit: a line of product with all the offerings under s ingle brand name. Focus on the markets and consumer benefits, not on products. Visio(cid:374) state(cid:373)e(cid:374)t: (cid:449)hat se(cid:374)ior (cid:373)a(cid:374)age(cid:373)e(cid:374)t sees as the orga(cid:374)izatio(cid:374)"s future. Mission statement: a concise expression of the broad goals and policies of the business, it is unique, focused and differentiated. Business philosophy: the fundamental principle that guides the operations of the business. Societal marketing philosophy: describes the operations of companies whose corporate mission reflects their desire to do good. Missio(cid:374) (cid:373)arketi(cid:374)g: if a (cid:272)o(cid:373)(cid:373)it(cid:373)e(cid:374)t refle(cid:272)ts a (cid:272)o(cid:373)pa(cid:374)y"s (cid:272)ore (cid:271)usi(cid:374)ess strategy e. g. dove real beauty. Narrow, st thinking that defines a business in terms of goods. Guinness world records, now there is google (cid:449)e do(cid:374)"t need the book anymore.