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weekly summary - 1-Marketing - Weekly summary -1 MARKETING...

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Weekly summary -1MARKETING MANAGEMENT –BUS530Professor : Dr. Gillian Coote-MartinCourse Dates : 01/12 – 03/08Name : NAVEEN XAVIER
what is marketing ?
Different types of marketing ?
A mission statement is a statement of the purpose of a company, organization or person, itsreason for existing.A written declaration of an organization's core purpose and focus that normally remainsunchanged over time. Properly crafted mission statements serve as filters to separate whatis important from what is not, clearly state which markets will be served and how, andcommunicate a sense of intended direction to the entire organization. A mission is differentfrom a vision in that the former is the cause and the latter is the effect; a mission issomething to be accomplished whereas a vision is something to be pursued for thataccomplishment. Also called company mission, corporate mission, or corporate purpose.The mission statement should guide the actions of the organization, spell out its overallgoal, provide a path, and guide decision-making. It provides "the framework or contextwithin which the company's strategies are formulated." It is like a goal for what the companywants to do for the world.ORGANIZATIONAL OBJECTIVES• Objectives must be:• Specific• Measurable• Action commitmentsORGANIZATIONAL STRATEGIES• Organizations can pursue various strategies based on:• Products and markets• Competitive advantage• ValueORGANIZATIONAL STRATEGIES BASEDON COMPETITIVE ADVANTAGE• Cost leadership strategy - A firm would focus on being the low-cost company in its industry
• Strategy based on differentiation - A firm seeks to be unique in its industry or marketsegment along particular dimensions that the customersValue-based pricing

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Term
Summer
Professor
NoProfessor
Tags
Finance, pharmaceutical company, NAVEEN XAVIER

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