It is the process of developing and maintaining a strategic fit between the organization’s goal and capabilities and its changing marketing opportunities.
Steps in Strategic Planning Defining a Market-Oriented Mission
A statement of the organization’s purpose-what it wants to accomplish in the larger environment.
Market-oriented mission statement
Defines the business in terms of satisfying basic customer needs.
Companywide Strategic Planning
Company Product-Oriented Definition Market-Oriented Definition
Amazon.com We sell books, videos, CDs, toys, consumer electronics and other products online We make the Internet buying experience fast, easy, and enjoyable— we’re the place where you can find and discover anything you want to buy online
Disney We run theme parks We create fantasies—a place where dreams come true and America still works the way it’s supposed to
Nike We sell athletic shoes and apparel We bring inspiration and innovation to every athlete* in the world (* if you have a body, you are an athlete)
Setting Company Objectives and Goals
• Business objectives
Build profitable customer relationships
Invest in research
• Marketing objectives
Increase market share
Create local partnerships
Designing the business portfolio
The collection of businesses and products that make up the company.
The process by which management evaluates the products and businesses making up the company.
Analyzing the Current Business Portfolio
Strategic business unit (SBU) is a unit of the company that has a separate mission and objectives that can be planned separately from other company businesses
Product line within a division
Single product or brand
1. Identify key businesses (strategic business units, or SBUs) that make up the company
2. Assess the attractiveness of its