Business Plan Marketing Strategy

Business Plan Marketing Strategy-68
This definition should not be too narrow, or it will constrict the development of the organization; a too rigorous concentration on the view that "We are in the business of making meat-scales," as IBM was during the early 1900s, might have limited its subsequent development into other areas.

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The marketing process model based on the publications of Philip Kotler.

It consists of 5 steps, beginning with the market & environment research.

A marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives.

It can be for a product or Service (economics)|service, a brand, or a product line. A marketing plan may be part of an overall business plan.

Solid marketing strategy is the foundation of a well-written marketing plan.

While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use.

Behind the corporate objectives, which in themselves offer the main context for the marketing plan, will lay the "corporate mission"; which in turn provides the context for these corporate objectives.

This "corporate mission" can be thought of as a definition of what the organization is; of what it does: "Our business is …".

Abell suggested that the definition should cover three dimensions: "customer groups" to be served, "customer needs" to be served, and "technologies" to be utilized .

Thus, the definition of IBM's "corporate mission" in the 1940s might well have been: "We are in the business of handling accounting information [customer need] for the larger US organizations [customer group] by means of Punch card|punched cards [technology]." Perhaps the most important factor in successful marketing is the "corporate vision." Surprisingly, it is largely neglected by marketing textbooks; although not by the popular exponents of corporate strategy - indeed, it was perhaps the main theme of the book by Peters and Waterman, in the form of their "Superordinate Goals." "In Search of Excellence" said: "Nothing drives progress like the imagination.

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