MKTG 341 Chapter Notes - Chapter 2: Boston Consulting Group, Market Segmentation, Product Market
10 May 2017
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Chapter 2: company marketing strategy: partnering to build customer relationships. Defining a market oriented mission: mission starts with these questions, what is our business, who is the customer, what do customers value, what should our business be, develop formal mission statement answering these questions. Mission statement = statement of organization"s purpose what it wants to accomplish in the larger environment. Setting company objectives & goals: each manager should have objectives & be responsible for them. Business portfolio = collection of business & products that make up the company. Portfolio analysis = process by which management evaluates the products & businesses that make up the company. Strategic business units (sbus) = can be company/product line/division, single product, or brand: first step to identify key business that makes up the company, next, assesses attractiveness of various sbus & decides how much support each desires. Boston consulting group approach: best known portfolio-consulting method, boston counselling approach, classifies all sbus according to growth-share matrix.
