kotcha02 - 1 Chapter 2 Strategic Planning and the Marketing...

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Unformatted text preview: 1 Chapter 2 Strategic Planning and the Marketing Process 2 Formal Planning Many companies operate without formal plans, yet these plans can provide many benefits such as: Encouraging management to think ahead systematically. Forcing managers to clarify objectives and policies. Better coordination of company efforts. Clearer performance standards for control. Helping the company to anticipate and respond quickly to environmental changes and sudden developments. 3 Strategic Planning Strategic Planning is the Process of Developing and Maintaining a Strategic Fit Between the Organizations Goals and Capabilities and Its Changing Marketing Opportunities. 4 Steps in Strategic Planning (Fig. 2.1) Defining the Company Mission Setting Company Objectives and Goals Designing the Business Portfolio Planning, marketing, and other functional Strategies Corporate Level Business unit, product, and market level 5 Market Oriented Realistic Fit Market Environment Distinctive Competencies Motivating Specific Characteristics of a Good Mission Statement: A Mission Statement is a Statement of the Organizations Purpose. Defining the Companys Business and Mission Mission Statement: What the organization wants to accomplish in the larger environment. 3m does more than just make adhesives, scientific equipment, health care, and communications products. It solves peoples problems by putting innovation to work for them. (Text page 49.) Click or press spacebar to return. 6 Setting Company Objectives and Goals Ma rketing St rategy Ma rketing St rategy Ma rketing Ob jective # 1 Ma rketing St rategy Ma rketing Ob jective # 2 Ma rketing St rategy Ma rketing St rategy Ma rketing Ob jective # 3 Mi ssion St ateme nt Monsato defines its mission as one of food, health, and hope. What business objectives does this mission lead to?...
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This note was uploaded on 06/03/2011 for the course AED 402 taught by Professor Larson during the Spring '11 term at University of Florida.

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kotcha02 - 1 Chapter 2 Strategic Planning and the Marketing...

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