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Kotler12e_basic-02 - 2 CompanyandMarketing...

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Company and Marketing  Strategy: Partnering to Build  Customer Relationships 2 2 Principles of Marketing
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Companywide Strategic Planning:  Defining Marketing’s Role Strategic Planning Strategic planning  is the process of developing and  maintaining a strategic fit between the  organization’s goals & capabilities and its  changing marketing opportunities. - Strategic planning sets the stages for the rest of the  planning in the firm.  - Companies usually prepare annual plans, long-range  plans and strategic plans.
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Companywide Strategic Planning:  Defining Marketing’s Role Defining a Market-Oriented Mission Mission statement:  The organization’s purpose,  what it wants to accomplish in the larger  environment.   A clear mission statement acts as an “invisible hand” that  guides the people of the organization. Mission should be: Specific - Realistic - Fit with the market environment - Based on distinctive competencies - Motivating
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Companywide Strategic Planning:  Defining Marketing’s Role Setting Company Objectives and Goals Designing the Business Portfolio The business portfolio  is the collection of  businesses and products that make up the  company. - The best business portfolio is the one that best fits  the company’s strengths and weaknesses to  opportunities in the environment.
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Companywide Strategic Planning:  Defining Marketing’s Role Analyzing the Current Business Portfolio Analyzing the current business portfolio  is  the process by which management evaluates  the products and businesses making up the  company. These can be called the Strategic  Business Units (SBU). 
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Companywide Strategic Planning:  Defining Marketing’s Role Steps in Analyzing the Current Business Portfolio 1. Identify key businesses making up the  company 2. Assess the attractiveness of its various  SBUs 3. Decide how much support each SBU  deserves
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Companywide Strategic Planning:  Defining Marketing’s Role Analyzing the Current Business Portfolio The Boston Group Approach Growth share matrix is a portfolio planning method that evaluates a company’s strategic business units in terms of their market growth rate and relative share. Strategic business units are classified as : Stars Cash Cows Question marks Dogs
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Companywide Strategic Planning:         Defining Marketing’s Role Analyzing the Current Business Portfolio The Boston Group Approach Stars are high-growth, high-share businesses or products requiring heavy investment to finance rapid growth. They will eventually turn into cash cows.
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