MKT 702 Chapter Notes - Chapter 4: Human Resource Management, Peter Drucker, Target Market
Document Summary
Chapter 2 developing marketing strategies and plans. In a hypercompetitive economy with increasingly rational buyers faced with abundant choices, a company can win only by fine-tuning the value-delivery process and choosing, providing, and communicating superior value: value delivery process- offerings for well-defined target markets. 3 phases (each with cost implications) : choosing the value- homework before product exists. Every firm is a synthesis of activities preformed to design, produce, market, deliver, and support its product. Service: supporting activities (specialized departments handle these tasks) Companies nurture privately the resources and competencies that make up the essence of the business. 2- assessing the business"s strengths by considering the market"s growth rate and the companies position and fit in the market. Strategic planning at 4 organizational levels: corporate and division levels, defining the corporate mission. Mission statements: to give consumers and company workers a common sense of business purpose, direction, and opportunities. Focus on a limited number of goals.
