Organizational Strategy

Organizational Strategy - O rganizational Strategy Critical...

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Organizational Strategy Critical Terminology o Segmentation Dividing customers into groups (segments) so that those within a segment have similar needs and responds similarly to a marketing strategy (racers, commuters, adult recreational, children) – Bike market (high end, mid-price, budget) o Targeting Directing marketing effort toward a market or segment Products, prices, communication, distribution Critical Strategic Concepts o Positioning (a product, service, or idea) Shaping customers’ perceptions of the product Shampoos: Suave(value), Pantene Pro-V(healthy hair) o Points of Difference Characteristics that make a product superior to competitive substitutes Volvo =>safety Staples => easy => free returns o What is strategy? An organization’s long term course of action designed to deliver a unique customer experience while achieving its goals Developing Strategy o Mission - a statement of the organization’s function in society
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Explicitly defines organizational purpose for employees and external stakeholders Guides strategic decisions at corporate and lower levels Mission statements constrain strategy, but they do not
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This note was uploaded on 08/22/2011 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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Organizational Strategy - O rganizational Strategy Critical...

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