Chapter_2Facebook_Case - 1. “CVS Caremark” changes to “CVS...

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1.“CVS Caremark” changes to “CVS Health”a.Ends Tobacco Sales (2014)i.Forgoes $2 billion in annual revenueii.Competitors did not remove tobaccob.Metamorphosis fromi.Drugstore toii.Pharmacy toiii.Healthcare Providerc.Acquisition of Aetna for $69 billion2.Vaping in the Newsa.•FDA Tells Juul Its Marketing Claims Violate Regulationsb.•New York Govenor Andrew Cuomo Announces Ban on Flavored e-cigarettes3.Setting company objectives and goals4.Strategic Planning
5.Strategic Planninga.Strategic planning involves adapting the firm to take advantage of opportunitiesin its constantly changing environment.b.Strategic planning helps a firm to maintain a strategic fit between its goals andcapabilities and its changing marketing opportunities.6.Mission Statementa.Statement of the organization’s purposei.What it wants to accomplish in the larger environmentb.Market oriented and defined in terms of satisfying basic customer needsc.Emphasizes the company’s strengthsd.Focuses on customers and the customer experience the company seeks tocreate7.SWOT Analysis
8.Setting Company Objectives and Goalsa.The mission should be converted to supporting objectives at each level ofmanagement.b.The mission leads to setting a hierarchy of objectives.i.Business objectivesii.Marketing objectives9.Business Portfolioa.Collection of businesses and products that make up the companyb.Steps in business portfolio planning:i.Analyze the firm’s current business portfolioii.Develop strategies for growth and downsizing to shape the future portfolio10. Portfolio Analysisa.Evaluation of the products and businesses that make up the company by themanagementb.Steps:i.Identifying the strategic business units (SBUs)ii.Assessing the attractiveness of its various SBUs and deciding the supporteach SBU deservesc.The purpose is to direct resources toward more profitable businesses whilephasing out or dropping weaker ones.11. Cash Flows across Businesses in BCG Portfolio Model
12. Product-Market Expansion Grid13. Role of Marketing in Strategic Planninga.Provides a guiding philosophyi.Marketing concept—company strategy should create customer value andbuild profitable relationships with the key customersb.Provides inputs to strategic plannersi.Helps identify market opportunities and assess the firm’s potential to takeadvantage of them
c.Designs strategies for reaching the unit’s objectives14. Marketing Strategya.Marketing logic by which the company hopes to create customer value andachieve profitable customer relationshipsb.Marketing mix: Integration of product, price, place, and promotionc.Activities for best marketing strategy and mix involve:i.Marketing analysisii.Planning, implementation, and control15. Concepts - Terminologya.Market Segmentationi.Dividing a market into distinct groups of buyers who have different needs,characteristics, or behaviors, and who might require separate products ormarketing programsb.Market Segmenti.

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