Module2 - MODULE 2 ADV 112 Strategic Thinking and Planning...

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MODULE 2 ADV 112 Strategic Thinking and Planning Introduction This module will introduce the basic principles of marketing planning and strategies. We'll talk about various approaches for increasing revenues and expanding a business. We'll learn about mission statements, goals, and objectives, and we'll practice writing those important components. You will also learn about the value-delivery network and will gain an understanding of the various partners that organizations have within that network to help deliver value to customers. And we'll look closely at how companies assess their strengths, weaknesses, opportunities, and threats in order to figure out how to best market themselves and their products to customers. Student Outcomes Write a professional mission statement, goals, and objectives. Define key marketing-growth strategies. Identify partners in the value-delivery network. Write a SWOT analysis. Assignments Read: Starbucks Coffee: Where Growth Is Really Perking Assignment 2.1: Strategic Agency Research Assignment 2.2: Mission Statement/Goals and Objectives/SWOT Analysis
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2 In order to be successful over time, every company must develop a plan to survive and grow in both the short- and long-term future based upon its changing situation, opportunities, goals, and resources. This is the focus of strategic planning. Strategic planning is the process of creating, coordinating, and managing the connections between an organization's purpose, goals, and abilities, in relation to that organization's markets and opportunities. Stated in another way, strategic planning refers to the process of trying to strategically fit a company with its changing market environment. Just as compatibility is important to how well individuals fit together in personal relationships, compatibility is also important in the relationships between businesses and their customers. As with personal relationships, often a little work can go a long way in enhancing those relationships, so, with most organizations, strategic planning occurs at all levels, frequently or continually. And where it involves customers and the four Ps (remember, that's product, place, price, and promotion), it involves marketing. Mission Statements All organizations set out to do something. While part of what they set out to do usually includes some kind of financial element (that is, an effort to make money), companies usually have their eyes on other targets as well. Perhaps they set out to meet a need they feel is currently not met in the market, like providing comfortable shoes at a low price to customers in a specific area or region. Or maybe the organization hopes to improve the natural environment with its products, or provide superior quality or easier access to a set of products that were previously more difficult and costly to attain. In order to help pave the road for strategic planning and success, organizations first must identify and articulate what it is they
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Module2 - MODULE 2 ADV 112 Strategic Thinking and Planning...

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