ADM2320X summer 2008-ch 2

ADM2320X summer 2008-ch 2 - Developing successful marketing...

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1 Developing successful marketing and corporate strategies Chapter Two
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2 Kinds of organizations Business organizations for profit: A privately owned organization that serves its customers to earn a profit Non-profit organizations: Non-governmental organization that serves its customers but does not have profit as an organizational goal
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3 Levels in organizations Corporate level: Top management create shareholder value by: directing overall strategy for the entire organization managing a portfolio of business (strategic business units or SBUs) Business unit level: Business unit managers set direction for their products Functional level: Functional specialists in finance, HR, production etc. implement the strategy
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4 Business Definition A firm’s business is defined by the needs of its customers Who are our customers? What are their needs? What products or services will provide value to these customers? What, to whom, when, where, how, at what price?
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5 Mission statement A statement of the organization’s scope that identifies its customers, markets, products, technology and values. Inspires employees and others that deal with the organization. Facilitates more focused marketing efforts .
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6 Organizational culture - stakeholders Internal stakeholders: Employees External stakeholders: Customers Suppliers Distributors Governments Unions Local communities & general public
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7 Bombardier organizational culture Shared set of values, ideas and attitudes across the organization: Delivering quality products Delivering good value to customers Respecting and appreciating employees Protecting the natural environment; and Being a good corporate citizen in the communities where it operates
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8 Goals or objectives Mission statement is expressed in terms of performance targets to be achieved by a specific time. Goals are at the three levels of corporate, business unit and functional
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9 Specific goals Profit Sales revenue Market share Unit sales Quality Customer satisfaction Employee welfare Social responsibility Efficiency and least cost (for non-profits)
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Setting strategic directions Where are we now? SWOT analysis
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ADM2320X summer 2008-ch 2 - Developing successful marketing...

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