COMM 223 Study Guide - Midterm Guide: Swot Analysis, Household Debt, Baby Boomers
19 Oct 2017
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Text figures 2. 2, 2. 3, 2. 4, 2. 5, 2. 8 as well as 4. 1, 4. 2 are very important. Objectives: goals what you want to accomplish. Strategies: how you will accomplish it and utilizing which resources to do so. Tactics: specify the actions required to execute the strategy. The process of developing & maintaining a strategic fit between the organization"s goals & capabilities. 5 criteria for a good mission statement: market oriented, realistic, specific, motivational, consistent with the market environment: setting objectives can be expressed quantitative or qualitative terms. Downsizing to trim sbus & product lines: product-market expansion grid (figure 2. 3) See chart at end for sample of items commonly found in each area of a swot analysis. Marketing environment consists of 2 broad categories of influences: The microenvironment - forces that are close to the company that affect its ability to serve its customers. General, & internal: the macroenvironment fig 4. 2, demographic environment, aging population, largest age groups:
