F10+MKTG+3104Student++02.+Strategy+Part+1+ppt[1]

F10+MKTG+3104Student++02.+Strategy+Part+1+ppt[1] - MKTG...

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MKTG 3104 ORGANIZATIONAL STRATEGY
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Strategy Objectives Understand what strategy is, how it’s developed, and its role at different levels of an organization Define the components of a marketing mix (4Ps) Examine two strategy classification systems Explain two strategic analysis tools and how to use them effectively But first……
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Critical Terminology Segmentation Dividing customers into groups (segments) so that those within a segment have similar needs and respond similarly to a marketing strategy. Targeting Directing marketing effort toward a market or segment
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Critical Strategic Concepts Positioning (a product, service, or idea) Shaping customers’ perceptions of the product Points of Difference characteristics that make a product superior to competitive substitutes
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WHAT IS STRATEGY? An organization’s long term course of action designed to deliver a unique customer experience while achieving its goals Contrast the strategies. Taco Bell Chipotle Quality? Price? Promotion? Positioning?
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DEVELOPING STRATEGY CREATE THE ORGANIZATIONAL FOUNDATION SET THE ORGANIZATIONAL DIRECTION ORGANIZATIONAL STRATEGIES
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DEVELOPING STRATEGY CREATE THE ORGANIZATIONAL FOUNDATION Mission Core values Organizational culture Why do we exist and what do we stand for?
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DEVELOPING STRATEGY CREATE THE ORGANIZATIONAL FOUNDATION Mission Core values Organizational culture MISSION A statement of the organization’s function in society Bristol-Myers Squibb To discover, develop and deliver innovative medicines that help patients prevail over
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Why is a mission statement important? Explicitly defines organizational purpose for employees and external stakeholders Guides strategic decisions at corporate and lower levels Cancer, HIV/AIDS? Skin care, laxatives?
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This note was uploaded on 03/02/2012 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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F10+MKTG+3104Student++02.+Strategy+Part+1+ppt[1] - MKTG...

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