BUS 343 Chapter Notes - Chapter 1-3 : Instant Coffee, Strategic Business Unit, Product Market

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Jason Ho

Document Summary

Market oriented mission: overall purpose and mission. Focus on customers and customer experience instead of profit sale: mission statement: what it wants to accomplish in the large environment, guideline, product- oriented definition market- oriented definition, meaningful and specific, emphasize strength of company. Turn its mission into detailed supporting objectives: each level of management: have objective and responsible to reach (smarrt) Specific, measurable, assignable, realistic, relevant, time- related (objective: business objective marketing objective marketing strategy, marketing strategies and programs must be developed to support marketing objectives, broad marketing strategy increase market share. Shape future portfolio e. g. develop strategy for growth/ downsizing: portfolio analysis: management evaluate the product and businesses (chooses most profitable and put strong resources) Stars: high growth, high share business heavy investment. Or phased out: dog: low growth, low share no large sources of cash. Focus on current business rather than future planning (little advice)