Marketing Notes

Topics: Strategic management, Marketing, Management Pages: 3 (425 words) Published: February 10, 2014
Mission statement
a statement of the organizations purpose or function in society (what it wants to accomplish in the larger environment) should encapsulate core values
defined in terms of satisfying basic customer needs

mission statement should direct company strategy planning
the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and changing marketplace opportunities who are we as a company?
what do we want to be known for?
what business are we in?

Organizational direction
specific goals
understanding of business we’re in

the “business”
clear, broad, underlying industry of market sector of an organization’s offering based on organizations that sell similar offerings

marketing myopia - defining “business” too narrowly
mistake of paying more attention to the specific products a company offers than to the benefits and experiences

development of business model
the strategies an organization develops to provide value to the customers it serves

development of SBUs
strategic business units
a unit of an organization that markets a set of related offerings to a clearly defined group of customers

setting goals or objectives
converts an organization’s mission and business into long and short0term performance targets profit and/or sales
market share
customer satisfaction
employee welfare and/or social responsibility

an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals

tracking strategies
visual computer display of the essential information related to achieving a marketing objective

where are we now?
core competencies - what we do well
special capabilities - the skills, technologies and resources that distinguish it from other organizations and provide customer value provide competitive advantage

understanding of customers
who are they?
what motivates them to...
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