BUS 343 Chapter Notes - Chapter 2: Swot Analysis, Customer Relationship Management, Strategic Planning

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Gordon Rein

Document Summary

Bus (cid:1007)(cid:1008)(cid:1007) chapter (cid:1006) https://quizlet. com/120901497/marketing-chapter-2-flash-cards/ (cid:696)(cid:697)(cid:698)i(cid:706)i(cid:706)(cid:699) (cid:705)a(cid:710)k(cid:697)(cid:712)i(cid:706)(cid:699)"(cid:711) role. Strategic planning (cid:368) the process of developing and maintaining a strategic fit between the org"s goals and capabilities and it"s changing marketing opportunities. Whereas annual planning deals with company"s current business and how to keep them going, strategic planning involves adapting the firm to take advantage of opportunities in its constantly changing environment. At corporate level (cid:367) company defines overall purpose and mission which is then turned into supporting objectives that guide the whole company. Next senior managers decide what portfolio of bsn and products is best for the company and how much support to give each one. Mission statement (cid:368) are statements of the organizations purpose, what it wants to accomplish in the larger environment. Products and technologies eventually become outdated but basic market needs may last forever. (cid:368) mission statements should be: meaningful and specific, yet motivating.