Chapter 2 Marketing Strategy
Strategic planning:
The process of developing and maintaining a t between the
organization’s goals and capabilities and its changing marketing
opportunities.
Sets the stage for the rest of the planning in rm. Companies typically
prepare annual plans, long-range plans, and strategic plans.
Mission:
A mission statement – a statement of the organization’s purpose – what it
wants to accomplish in the large environment. It acts as an “invisible hand”
that guide people in the organization.
A mission statement should be meaningful and specic, motivating, and
not be stated as making sales or prots.
A market-oriented mission statement denes the business in terms of
satisfying basic customer needs.
Missions should be realistic, specic, t the market environment, based on
the company’s distinctive competencies, and motivating.

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Chapter 2 Marketing Strategy

Strategic planning:

  • The process of developing and maintaining a fit between the organization’s goals and capabilities and its changing marketing opportunities.
  • Sets the stage for the rest of the planning in firm. Companies typically prepare annual plans, long-range plans, and strategic plans.

Mission:

A mission statement – a statement of the organization’s purpose – what it wants to accomplish in the large environment. It acts as an “invisible hand” that guide people in the organization.

🡪 A mission statement should be meaningful and specific, motivating, and not be stated as making sales or profits.

A market-oriented mission statement defines the business in terms of satisfying basic customer needs.

🡪 Missions should be realistic, specific, fit the market environment, based on the company’s distinctive competencies, and motivating.