Chapter 2 of Marketing course of year 1 of Bachelor of Business Economics. Comprehensive notes completed with information from class and the slides provided by the teacher, and all the graphs and schemes seen in the course. Hope they can help you study for the exam :)
🗓️
chapter 2: Company and Marketing Strategy
This document discusses the importance of strategic planning in outlining the direction and goals
of a company. It explores the levels of planning, including concern/company level, SBU-level,
and product/market combinations. The document also covers topics such as defining the
Description company mission, setting objectives and goals, designing the business portfolio, and planning
marketing strategies. It concludes with the importance of managing the marketing effort and
measuring marketing return on investment (ROI).
Reviewed
STRATEGIC PLANNING
Strategic planning:
outlining the direction of the company
making decisions about the goals and objectives, formulating strategies to achieve these goals
Strategic planning process = the process in which the objectives and capacities (assets & competences) of the
company are continuously matched against evolving opportunities and threats in the external environment
LEVELS OF PLANNING:
concern/company level
→ Nestle, Philips, Nike, Apple
Product/ market-combinations (delineated product groups that operate on a clearly definable market = more
than 1 possible per SBU)
→ Gourmet (premium pet food) / Electronic toothbrushes / Basketball footwear, basketball apparel,
basketball accessories / MacBook Pro line
chapter 2: Company and Marketing Strategy 1
, The strategic planning process:
DEFINING THE COMPANY MISSION
Mission statement = statement of the organisation’s purpose, what it wants to accomplish in the larger
environment
Example of mission statement:
How to define a mission statement:
1. Based on a vision
= how management sees the branch/ market in its whole
2. Start from basic needs of the market
= not in terms of products or technology (→ marketing myopia/ better mousetrap fallacy) but in terms of
customer needs
3. Not delineated too narrow, but neither too broad
= actionable guidelines
4. Realistic
= based on company’s unique assets and competences
5. Motivating
chapter 2: Company and Marketing Strategy 2
, = giving employees sense they can provide positive contribution to others’ lives
SETTING COMPANY OBJECTIVES AND GOALS
Business objectives Marketing objectives
DESIGNING THE BUSINESS PORTFOLIO
Business portfolio = the collection of businesses and products that make up the company
Portfolio analysis = a major activity in strategic planning whereby management evaluates the products and
businesses that make up the company
SBU’s = Strategic Business Units can be:
company division
product line within a division
single product or brand
Example of business portfolio:
Analysing the current business portfolio
1. Defining the business activities:
a. business definition model
b. market definition of current activities
chapter 2: Company and Marketing Strategy 3
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller danabalutel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.38. You're not tied to anything after your purchase.
