Analyzing Consumer Markets.Docx

Topics: Strategic management, Mission statement, Marketing Pages: 2 (347 words) Published: February 1, 2013

By preparing statements of mission, policy, strategy, and goals, headquarters establishes the framework within which the divisions and business units prepare their plans. All corporate headquarters undertake four planning activities: 1. Defining the corporate mission

2. Establishing strategic business units
3. Assigning resources to each SBU
4. Assessing growth opportunities

Defining the Corporate Mission:

A mission statement is a statement of the purpose of a company, organization or person, its reason for existing.

Good corporate mission statements focus on three characteristics’) 1. It should focus on a limited number of goals only.
2. Mission statements stress the company’s major policies and values. 3. They define the major competitive spheres within which the company will operate: a) Industry: the range of industries the company will operate. b) Products and applicants: the range of products and applications c) Competence: the range of technological and other competencies that a company will master and leverage d) Market segments: what type of market or customers a company will serve. e) Vertical: the number of channel levels from raw materials to final product and distribution in which a company will participate. f) Geographical: the range of regions, countries, or country groups in which a company will operate.

Defining the Business:

Companies often define their businesses in terms of products. But market definitions of business are superior to product definitions. A business must be viewed as a customer-satisfying process, not a goods producing process.

Target market definition:
* Tends to focus on selling a product or service.

Strategic market definition:

Assessing Growth Opportunities:

Assessing growth opportunities involves planning new businesses, downsizing, or terminating older businesses.

Intensive growth -- corporate...
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