Study_Guide_for_Lecture_23_-_Management_II_-_strategy

Study_Guide_for_Lecture_23_-_Management_II_-_strategy -...

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Study guide for Lecture 23: Marketing Management - Strategy     Who is selling? What is Strategic Planning 0. A process of creating and maintaining a fit between the organization’s objectives and  resources and evolving market opportunities. 0. Generally involves strategies and objectives that will take more than a year to  achieve 1. Many times the process is as important as the plan 1. In a “nutshell” 2. A.  Figure out where you are now 3. B.  Figure out where you want to be 4. Figure out how to get from point “A” to point “B” Hierarchy of Concerns 2. Type of business 5. Profit 0. Privately owned organization that serves its customers in order to make a  profit 6. Not-for-profit 1. Non-governmental organization that serves its customers but does NOT have  profit as an objective 0. Frequently given tax-advantaged status 0. Level of concern 0. Corporate level 0. An issue in multi-product/multi-market firms 1. Aka “C” level 1. Business unit 2. A set of related products and markets 2. Functional area 3. Specialized interdependent activities within a business 4. More of an issue with large organizations Marketing 431 Study Guides © 2009 Lecture 23: Management II - Strategy Page 1
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5. Smaller businesses everybody wears a lot hats 7. The point 2. Each of these levels requires strategic planning 3. Lower-level plans achieve what is called for in higher-level plans 1. Corporate ROI objective becomes parameter of business unit plan 3. Vision/mission 8. Role of top management 9. What business are we in 4. Where we compete 5. How we compete 6. What businesses we are not in 10. What is the playing field 11. May or may not be written 4. Mission Statement 12. Formal statement of the organization’s scope, often identifying its customers, 
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Study_Guide_for_Lecture_23_-_Management_II_-_strategy -...

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