BAMM 313 C Lecture 2: Chapter 2 Company and Marketing Strategy
Document Summary
Chapter 2: company and marketing strategy: strategic planning- companies finds the best way to survive in the industry for the long run. They undergo strategic planning in order to formulate the best game plan. It is the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities. The company deals with the current business and find a way on how to keep it going while adapting the changing environment of business. It may be a simple question to some people but from a businessman"s point of view, it is difficult to answer: mission statement- it is the statement of the organization"s purpose. It is the guide of the organization to stay with what they want to accomplish in the larger environment. Mission statements must be market-oriented that satisfy customer"s basic needs. Product-oriented versus market- oriented: product-oriented marketing- the company"s main focus is its product.
