Summary
Summary (Chpt.2) Partnering to Build Customer Engagement, Value, and Relationships
- Institution
- University Of The Witwatersrand (wits)
(Chpt.2) Partnering to Build Customer Engagement, Value, and Relationships
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
Content preview
Principles of Marketing by ProfessorBurgerQueenPartnering to Build Customer Engagement, Value, and Relationships
- Strategic planning is the process of developing and maintaining a strategic fit
between the organisation's goals and capabilities, and its changing marketing
operations
- The business portfolio is a the collection of businesses and products that make up
the company
- Portfolio analysis is a major activity in strategic planning whereby management
evaluates the products and businesses that make up the company
The BCG Growth-Share Matrix (Boston Matrix)
- Dog - Low market growth rate, low relative market share
- Cash Cow - Low market growth rate, high relative market share
- Question Mark - High market growth rate, low relative market share
- Star - High market growth rate, high relative market share
- In this classic portfolio planning approach, the company invests funds from mature,
successful strategic business units (cash cow) to support promising ones in
faster-growing markets (question mark and star)
- The company must decide how much it will invest in each strategic business unit,
and decide whether to build, hold, harvest, or divest
- Strategic Business Units (SBUs) can be a company division, product line, or single
product/brand
Problems with Matrix Approaches
- Difficulty in defining SBUs and measuring market share and growth
- Time consuming
- Focus on current businesses, not future planning
- The Ansoff Matrix helps marketers identify opportunities to grow revenue for the
business through developing new products & services, or tapping into new markets
- Market Penetration - Existing markets, existing products & services
- Market Development - New markets, existing products & services
- Product Development - Existing markets, new products & services
- Diversification - New markets, new products & services
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ProfBurgerQueen. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R60,00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83430 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now