ch2 marketing notes

ch2 marketing notes - M a r keting 301 Chapter 2 Notes...

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Marketing 301 – Chapter 2 Notes Strategic Planning - the process of developing and maintaining marketing opportunities (Fits between the organization objectives and resources) 1. Define a Market Oriented Mission Mission statement – a statement of the organization’s purpose Market-oriented – about satisfying consumer needs Product oriented – what we well/provide 2. Setting Company Objective and Goals – mission goals (measures accomplishment of mission) 3. Designing the Business Portfolio Business portfolio – the collection of business and products that make up the company Portfolio analysis – the process by which management evaluates the products and businesses that make up the company Strategic business Unit evaluation BCG Star – High growth, high share, often need heavy investment, will eventually turn into cash cows Cash cow –low growth, high share; established and need less investment to hold their share (harvest the $ to put into ? so that they can become stars) Question marks – high growth, low share; require a lot of cash,
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ch2 marketing notes - M a r keting 301 Chapter 2 Notes...

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