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Chapter 2

Chapter 2 Notes.docx

1 pages69 viewsWinter 2013

Department
Commerce
Course Code
COMM 131
Professor
Jacob Brower
Chapter
2

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Marketing: Chapter 2 – Company and Marketing Strategy: Partnering to Build Customer Relationships
Company-Wide Strategic Planning: Defining Marketing’s Role:
Strategic planning: process of developing and maintaining a strategic fit between the
organization’s goals and capabilities and its changing marketing opportunities
Steps in Strategic Planning:
1. Defining the company mission
2. Setting company objectives and goals (Corporate Level)
3. Designing the business portfolio
4. Planning marketing and other functional strategies (Business unit, product and
market level)
Defining a Market-Oriented Mission:
Mission statement: statement of the organization’s purpose – what it wants to
accomplish in the larger environment; should be market oriented and defined in terms
of satisfying basic customer needs; meaningful, specific, and motivating, written to
emphasize company’s strengths in the marketplace
Answers the following questions:
oWhat is our business?
oWho is our customer?
oWhat do consumers value?
oWhat should our business be?
Designing the Business Portfolio:
Business portfolio: process by which management evaluates the products and
businesses that make up the company
Two Step Planning Process:
1. Analyze current business portfolio and decide which businesses should receive
more, less, or no investment
2. Shape future portfolio by developing strategies for growth and downsizing
Analyzing The Current Business Portfolio:
Portfolio analysis: process by which management evaluates the products and
businesses that make up the company
Steps:
1. Identify key businesses that make up the company called strategic business
units (SBUs); can be a company division, product line within a division, or
sometimes a single product or brand
2. Assesses attractiveness of SBUs and decides how much support each needs
Boston Consulting Group Approach:
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