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Chapter2 - organization ↓ ↓ ↓ HR Marketing Finance...

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MARKETING CHAPTER 2 -An organization is a legal entity of people who share a common mission. 1) A business firm that is privately owned and serves its customers in order to earn a profit so that it can survive. 2) A nonprofit organization that is a nongovernmental organization that serves its customers but does not have a profit as an organizational goal. Profit : money left after a business firm’s total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings Strategy: an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals Organizations are divided into three levels of strategy: Board of directors 1) Corporate level strategy (top management directs overall strategy for the entire organization) 2) Business unit-level strategy (managers set a more specific strategic direction for their business to exploit value-creating opportunities) 3) Functional-level strategy (groups of specialists create value for the
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Unformatted text preview: organization) ↓ ↓ ↓ HR Marketing Finance …etc. Organizational foundation (why) Organizational direction (what)-Core values-Business-Mission +-Goals-Organizational Culture -Long term-Short term Competencies: special capabilities, including skills, technologies, and resources that distinguish it from other organizations and that provide value to its customers Competitive advantage: unique strength Strategic Marketing Process: (used to allocate its marketing mix resources to reach its target markets) -Planning Phase Step one: SWOT analysis Step two: Market-product focus and goal setting Step three: Marketing program >Marketing Plan-Implementation Phase-carries out the marketing plan that emerges from the planning phase >Results-Evaluation Phase- compares the results from the implemented marketing program with the marketing plan’s goals to identify the “planning gaps” and take actions to exploit positive deviations or correct negative ones...
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Chapter2 - organization ↓ ↓ ↓ HR Marketing Finance...

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