DANCEST 805 Lecture Notes - Lecture 11: Leading Edge, Interbrand, Tacit Collusion
Document Summary
Strategy: plan of action designed to achieve certain defined objectives. In business firms objectives may be stated in such terms as sales volume, rate of growth, profit percentages, market share and roi. Defining objectives give purpose and direction to strategies. Strategies are developed at multiple levels in organisations. Together, form an integrated plan for the enterprise. Heart of any business plan is marketing strategy. Business exist to deliver products and services to markets. Other components of business unit strategy; finance, production and r&d; must support the marketing mission. Likewise, marketing objectives must take into account the firms core competencies and resource limits. Marketing strategy is composed of several interrelated elements. 3rd distribution systems: the wholesale and retail channels through which our products and services move to the users. 4th is the marketing communications, print, advertising, mail, point of sale, telemarketing. Depending in nature of business and markets, the marketing strategy may include other elements.
