ADMS 2200 Lecture Notes - Lecture 2: Strategic Planning, Marketing Mix, Marketing Strategy
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ADMS 2200 Full Course Notes
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Process of anticipating future events and conditions and determining the best way to achieve organizational goals. Predict about the future -> set objectives -> decide how to achieve. Determining company"s objective & how are they going to achieve. The process of determining an organization"s primary objectives and adopting courses of action that will achieve these objectives. Business unit level each unit has a marketing manager tv, computer, cellphone, camera, entertainment. Essential purpose that differentiates one company from others. How to make the company"s business unique eg. dell: select, be unique, portfolio. Eg. combine tablet with notebook -> samsung galaxy. Hard for competitors to duplicate, using funds between units to help each other out. Overall program for selecting a particular target market and then satisfying consumers in that market through the marketing mix. Exploit opportunities by virtue of pre-emptive capability building. Eg. walmart, economies of scale (great volume) -> set barriers for competitors to enter the market.