Chapter 2 : Developing Marketing

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Home assignment-kotler-12th edition- 2nd chapter

MARKETING DEBATE—What Good Is a Mission Statement?

Take a position: Mission statements are critical to a successful marketing organization versus mission statements rarely provide useful marketing value. MY OPINION:Pro: A well-crafted corporate mission statement reflects the values of the firm as they relate to the community at large, its stakeholders, its employees, and its customers. Once the firm’s positions are delineated in the mission statement, marketing can begin the process of setting its priorities, goals, and objectives derived from the stated priorities of the firm. With the advent of holistic marketing, what the firm believes about the communities at large and what strategic direction the firm wishes to take should be defined through its mission statement. Con: Mission statements are written for public consumption and rarely if ever do they reflect the actual goals, objectives, and mission of the firm. These statements are for public consumption and are written to placate the corporate stakeholders, employees, and consumers. Although most mission statements are written with good intentions, the real direction of the firm must be found in the application of its business practices. Marketing should not make the mistake of deriving its goals, objectives, and strategies from these platitudes.



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Virtually all firms have mission statements to help guide and inspire employees as well as signal what is important to the firm to those outside the firm. Mission statements are often the product of much deliberation and discussion. At the same time, some critics claim that mission statements sometimes lack “teeth” and specificity. Moreover, critics also maintain that in many cases, mission statements do not vary much from firm to firm and make the same empty promises.

Home assignment-kotler-12th edition- 2nd chapter MARKETING DISCUSSION Consider Porter’s value chain and the holistic marketing orientation model. What implications do they have for marketing planning? How would you structure a marketing plan to incorporate some of their concepts? ANSWER

Before the marketing function begins its planning, it first must examine the costs and performance of the firm in each of these value-creating activities and look for ways to improve or reduce costs/products as needed. Marketing must also force the firm to benchmark itself to the competition in all of these areas. The structure of the marketing plan must take into account each of the five primary activities and each of the four support activities. A marketing plan must incorporate both a “downstream” and “upstream” review in the process to deliver superior customer value. This means that the planning process must include areas for improvement in the five primary areas and the four support areas as part of its strategy and product development. Essentially, the marketing plan becomes an “improvement” document for the firm in each of these nine strategic activities delineating areas for change or modification for the firm. MARKETING SPOTLIGHT—Nike Discussion Questions (suggested responses): 1) What have been the key success factors for Nike? a. Consistent advertising program and selective spokespersons. b. Tracking consumer-purchasing behavior. 2) Where is Nike vulnerable? a. Loss of key sports figures. b. Loss of incremental growth in high-end products. c. Changes in governmental regulations/rules for production of their products. d. Competitive activities that mimic or improve upon technological processes. 3) What should it watch out for? a. Identifying trends and megatrends in the sports apparel industry. GURU ABHINAV DOC 24-05-2997 2

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Michael Porter’s value chain is a tool for identifying ways to create more...
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