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Lecture Principles of Marketing - Chapter 2: Company and Marketing strategy partnering to build customer relationships

In this chapter, the following content will be discussed: Companywide strategic planning: Defining Marketing ’s role, designing the business portfolio, planning Marketing: Partnering to build customer relationships, Marketing strategy and the Marketing mix, managing the Marketing effort, measuring and managing return on Marketing investment. | Chapter Two Company and Marketing Strategy Partnering to Build Customer Relationships 1 Companywide Strategic Planning: Defining Marketing’s Role Designing the Business Portfolio Planning Marketing: Partnering to Build Customer Relationships Marketing Strategy and the Marketing Mix Managing the Marketing Effort Measuring and Managing Return on Marketing Investment Topic Outline Company and Marketing Strategy 2 Strategic Planning Companywide Strategic Planning Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities Note to Instructor Strategic planning sets the stage for the rest of the planning in the firm. Discussion Question How might the strategic plan of the college or university influence decisions in the schools programs and offerings. How might it influence decisions in food services, dormitories, executive education, and undergraduate versus graduate programs? 3 | Chapter Two Company and Marketing Strategy Partnering to Build Customer Relationships 1 Companywide Strategic Planning: Defining Marketing’s Role Designing the Business Portfolio Planning Marketing: Partnering to Build Customer Relationships Marketing Strategy and the Marketing Mix Managing the Marketing Effort Measuring and Managing Return on Marketing Investment Topic Outline Company and Marketing Strategy 2 Strategic Planning Companywide Strategic Planning Strategic planning is the process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities Note to Instructor Strategic planning sets the stage for the rest of the planning in the firm. Discussion Question How might the strategic plan of the college or university influence decisions in the schools programs and offerings. How might it influence decisions in food services, dormitories, executive education, and undergraduate versus graduate programs? 3 Companywide Strategic Planning Steps in Strategic Planning 4 Defining a Market-Oriented Mission Companywide Strategic Planning The mission statement is 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 We help you organize the world’s information and make it universally accessible and useful. Note to Instructor A mission statement should: Not be myopic in product terms Meaningful and specific Motivating Emphasize the company’s strengths Contain specific workable guidelines Not be stated as making sales or profits 5 Setting Company Objectives and Goals Companywide Strategic Planning 6 Designing the Business Portfolio Companywide Strategic Planning The business portfolio is 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 .