COMM 223 Lecture 2: Chapter 2
26 Jan 2016
School
Department
Course
Professor
Document Summary
In order to understand the role of marketing, it is important to understand the organization"s overall strategic planning process. Strategic planning: that is the process of developing and maintaining a strategic fit between organization"s goals/capabilities and the company changing marketing opportunities. An organization have three levels of strategy: -corporate level. Strategy at the corporate level: -set a mission statement (what it wants to accomplish in a larger environment). This mission statement will act as an invisible hand that will guide people in the organization. It has to avoid to broad or to narrow and has to be market oriented, realistic, specific and motivating. It means that the mission (as seen above) is turn into detailed business and marketing objectives. In order to attain this goals, a company must develop a marketing strategy. The goals can be about profit, revenue, market share, and quality and customer satisfaction. Designing the business portfolio (collection of businesses and products that make up a company).
