BUS 345 Lecture Notes - Lecture 2: Marketing Strategy, Swot Analysis, Marketing Mix

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 345
• Professor: Unknown

Document Summary

Strategic planning: the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities. Corporate levels: defining the company mission, setting company objective and goals, designing the business portfolio. Business unit, product, and market level: planning marketing and other functional strategies, defining a market-oriented mission. Mission statement: a statement of the organization"s purpose- what it wants to accomplish in the larger environment (helps guide people in the organization) Who are the competitors: what customers should we serve, how do we develop firm"s capabilities and focus its efforts. Specific: target a specific area for improvement. Measurable: quanitfy or at least suggest an indicator or progress. Realistic: state what results can realistically be achieved. Time related: specify when the results can be achieved, discuss how to design business portfolios and develop growth strategies. The group of products or brands owned by a firm that have different income-generating and growth capabilities.