MKT 202

MKT 202
Strategic Planning Process
The process of maintaining a strategic fit between the company’s resources and abilities and changing
marketing opportunities.
1. Mission statement: an invisible hand that guides companies.
Characteristics of mission statements:
a. Market Oriented
b. Realistic
c. Specific
d. Complying with the market
e. Distinctive competencies
f. Motivating
2. Designing a business portfolio
a. Business portfolio: collection of businesses that make up the company
b. Strategic Business Unit: independent business units operating in the
o Attractiveness
o Strength
c. The BCG Matrix
 Star
 Cash Cow
 Question Marks
 Dogs
d. Based on the positions of the SBUs, companies can decide to
 Hold
 Build
 Harvest
 Divest
3. Developing Strategies for Growth
a. Product/Market Expansion Grid
 Market Penetration
 Market Development
 Downsizing
Product Development
4. Marketing Strategies and Marketing Mix
Fig 2.4 Understand the interrelationships of marketing strategy and marketing mix
a. Market Segmentation
b. Targeting
c. Market Differentiation and Positioning
5. Develop and integrated marketing mix
a. Fig 2.5
b. Buyers perception as the 4P’s into 4Cs