Lecture 2 - Company & Marketing Strategy

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Principles of Marketing - Lecture 21

STRATEGIC PLANNING

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Glimpses of the future

Marketing Principles - Lecture 22

What would your world be like withoutCD Players?

Color TelevisionDVD SystemsMobile phones

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STRATEGIC PLANNING

Marketing Principles - Lecture 23

The process of developing &maintaining a strategic fit betweenorganization's goals and changing

market conditions

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ELEMENTS OF A STRATEGIC PLAN

Marketing Principles - Lecture 24

Defining the

company’s

mission

SettingCompany’s

ObjectiveDesigning

the

business

portfolio

Planningstrategies

SWOT

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ELEMENTS OF A STRATEGIC PLAN

Marketing Principles - Lecture 25

Defining the

company’s

mission

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Defining the Mission Statement

Marketing Principles - Lecture 26

Vision 

An impossible dream which the company wants toachieve. 

Mission statement

A realistic extension of the vision.

A mission statement should be: Realistic Specific

Market focused Highlighting distinctive competencies Motivating

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Vision – Sample

Marketing Principles - Lecture 27

Vision of PSO:

 To excel in delivering value tocustomers as an innovative anddynamic energy company thatgets to the future first.

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Mission Statement - Sample

Marketing Principles - Lecture 28

Mission Statement of PSO

We are committed to leadershipin energy market throughcompetitive advantage inproviding the highest quality

petroleum products and servicesto our customers, based on: Professionally trained, high quality, motivated workforce, working

as ateam in an environment, which recognizes and rewardsperformance,innovation and creativity, and provides for personal growth anddevelopment

Lowest cost operations and assured access to long-term and costeffectivesupply sources

Sustained growth in earnings in real terms Highly ethical, safe environment friendly and socially responsible

business practices

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Class Task

Marketing Principles - Lecture 29

Write a Mission Statement for:

Komfy FurnitureKomfy Furniture

oror

Suzee ParlourSuzee Parlour

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ELEMENTS OF A STRATEGIC PLAN

Marketing Principles - Lecture 210

SettingCompany’sObjective

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Setting the Company’s Objectives

Marketing Principles - Lecture 211

 The mission needs to turn into meaningful objectives.

 These objectives are for each level of the Management andcan vary from business to profitability, or financial

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ELEMENTS OF A STRATEGIC PLAN

Marketing Principles - Lecture 212

Designingthe

businessportfolio

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Designing a Business Portfolio

Marketing Principles - Lecture 213

A Portfolio is a group of business or products thata company makes.

Portfolio analysis is a tool by which management

identifies and evaluates the various businesses.

An SBU is a unit that has a separate mission andobjectives and can function on its own. This can

be a brand, product line or a company division.

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Boston Consulting Growth Matrix(BCG)

Marketing Principles - Lecture 214

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BCG Matrix & CorrespondingStrategies

Marketing Principles - Lecture 215

HarvestDivest

Hold

Invest / Build