BU354 Chapter Notes - Chapter 2: Delta Hotels, Forever 21, Epcot
Document Summary
Strategic marketing planning process: define mission/vision, situation analysis, identify and evaluate opportunities, implement marketing mix, evaluate performance. Growth strategies: market penetration, market development, product development, diversification. Macro strategies: customer excellence, customer service, operational excellence. Define the company"s mission, set company"s goals, and establish the business portfolio. Set goals and establish portfolio of products and markets for the business unit. Planning (applies only to large firms with more than one distinct line of businesses) Short-term to medium term (1 to 3 years) See page 33 for a sample outline of a marketing plan. Mission is to improve the health of canadians by preventing and reducing disability and death from heart disease and stroke through research, health promotion and advocacy. Another key goal or objective often embedded in a mission statement is building a sustainable competitive advantage (an advantage sustainable over a longer period of time): Sustainable competitive advantage something the firm can persistently do better than its competitors.
