MKTG 305 Lecture 2: Marketing

• School: Chico State University
• Department: Marketing
• Course: MKTG 305
• Professor: Jennifer Nelsen

Document Summary

Organization: a legal entity made up of people who share a common mission. Both make use of strategy: long term course of action that provides something unique while helping to meet goals. A published, publicized statement about the mission of the organization. They tend to be philosophical and inspiring. Organizations use strategic planning to direct business. Need to have a well defined goal & business model. *we want our products to go in a counterclockwise motion* *best place to be is in the cash cow position* How an organization allocates its marketing mix resources to reach its target markets. Planning (1) swot analysis (2) market-product focus: determining which products will be directed to which markets. Involves market segmentations and points of difference (3) marketing program. Implementation (1) obtain resources (2) design the marketing organization (3) develop a schedule (4) implement the plan (5) utilize marketing strategies and tactics.