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Chapter 2

Chapter 2 Marketing September 12.docx

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Department
Marketing
Course
MARK301
Professor
Peter Popkowski
Semester
Fall

Description
Chapter 2 Marketing Strategic Planning and the Marketing Process Disney has five branches - Media networks - Parks and resorts - Studio entertainment - Consumer products - Disney Interactive Mission statement: Blueprint of the company, identifies who we are and what we do Ex: 3m stands for innovation (Part of their culture) Setting company objectives and goals: trying to determine how to accomplish our mission Managing our business portfolio: of different businesses, ex: consumer products - Which companies should be putting more / less money - Manage portfolio to accomplish our goals - All at the corporate level Ex: Disney headquarters Functional areas: Planning marketing (Euro Disney) Specific identification marketing plan, different functional areas. Corporate social responsibility – extended mission for ethics for social responsibility, their expectations, what they’re planning to do, and also what they are expecting from their employees The mission statement - Product oriented: Theme park, movies , food - Market oriented: Dreams will come true, family memories’ fantasies, a place where America still works like it’s supposed too `Disney website. To be one of the world’s leading producers and providers of information and entertainment. Using our portfolio of brands to differentiate our content, consumer and services product, we seek to develop the most creative, profitable and innovative entertainment experiences and related products in the world. Focus on the consumer needs and using 4P’s to reach target market Strategic business unit - Rogers: Cell phone and cable business (listed separately on the stock market) - Oilers: Other businesses that generate revenue Business portfolio is combining our business portfolio Develop strategies for investment purposes Analyzing portfolios Focuses on current portfolio businesses and what we should do in the future Cash cow: Market leader and the market isn’t growing very fast, don’t have to invest a lot of money into this business Dog: a Business that isn’t growing, small market share. Small share of the market, it isn’t going to be easy to take shares of the competitors Question marks: Potential in fast growing markets, small shares, are they going to increase to market share , or will they not do well, quite unsure about market place Stars: All the attention and spotlight, fast growing markets, leaderships Stars: Defend position, maintain the high position, keep being profitable and having the share of the new customers that come in. Spend quite a bit of money for stars Come up with a somewhat balanced portfolio, circles for strategic business units, the size of the circle indicates how much sales they have in the particular business, total sales volume for that particular business Harvesting strategy: as long as the product is profitable, we will not spend a lot of money to market the product Question marks, develop them into stars Stars will become the future cash cows, not enough growth opportunity Cash cows can nurture money what they can invest in question marks and into the stars Growing market – cash cow
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