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CHAPTER 2 marketing.docx - CHAPTER 2 Partnering to Build...

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CHAPTER 2Partnering to Build Customer Engagement, Value, andRelationships2-1Explain company-widestrategic planningand its four steps.Strategic planningis the process of developing and maintaining a strategic fit between the organization’sgoals and capabilities, and its changing marketing opportunities.The Mission StatementThemission statementis the organization’s purpose; what it wants to accomplish in the largerenvironment.-What is our business?-Who is the customer?-What do consumers value?-What should our business be?Setting Company Objectives and GoalsThe company needs to turn its mission into detailed supporting objectives for each level of management
2-2Discuss how to designbusiness portfoliosand develop growth strategies.
Portfolio analysisis a major activity in strategic planning whereby management evaluates the productsand businesses that make up the company.Business portfolio planning involves two steps.1.First, the company mustanalyze itscurrentbusiness portfolioand determine which businessesshould receive more, less, or no investment.2.Second, it mustshape thefutureportfolioby developing strategies for growth and downsizingAnalyzing The Current Business Portfolio (1)The best-known portfolio-planning method is the now-classicBoston Consulting Group (BCG) approachIdentify strategic business units(SBUs)Assess the attractiveness of itsvarious SBUsDecide how much support each SBUdeservesStarsare high-growth, high-share businesses or productsrequiring heavy investment to finance rapid growth. Theywill eventually turn into cash cows.Cashcowsare low-growth, high-share businesses orproducts that are established and successful SBUsrequiring less investment to maintain market share.

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