Management and Organizational Studies 2320A/B Lecture Notes - Aquafina, Loyalty Program, Satellite Radio

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Dean Proessel

Document Summary

Create a market plan: largest component of this course. Market plan: a comprehensive strategic plan that focuses a company"s resources towards a goal. Carefully planning the marketing strategy in response to the environment, competition, and customers. 3 levels: corporate, strategic business unit(sbu)/division, & fuctional (i. e. product level) Strategic focus: define the company mission, set company goals, establish business portfolio. Sbu/divison: scope-single sbu within the firm ex: p&g has different divisions: beauty, household, phamacy. Strategic focus: set goals and establish portfolio of products and markets for the business unit. Functional planning: scope-product portfolio, single product, brand or market. Strategic focus-develop marketing plans for specific products, brands or markets. Planning: defines the mission and objectives, evaluate the situation by assessing how various players, both inside and outside of the organization affect the firm"s potential of su ccess ex: competition, market forces, customer trend, etc. Implementation: identify and evaluate different opportunities by engaging in a process known as segmentation, targeting, and positioning.