RSM250H1 Chapter Notes - Chapter 2: Psychographic, Sales Promotion, Market Segmentation
Document Summary
Strategic planning: the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities: swot. Steps in strategic planning: defining the company mission, setting company objectives and goals, designing the business portfolio. What businesses and products is right and how much support to be given to each: planning marketing and other functional strategies. Mission statement: a statement of the organization"s purpose what it wants to accomplish in the larger environment: guides people within an organization, should be market-oriented not myopically (product-) oriented. I. e. not we sell tools and home improvement items but we offer products and services to meet the everyday needs of. Canadian families : should focus on customers and the customer experience the company seeks to create. Each manager should have objectives, relating to fulfilling the company"s mission statement, and be responsible for reaching them.
