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PURPOSE AND PERSPECTIVE
This chapter focuses on strategic planning. We begin this chapter with an overview of the strategic planning process. Next, we examine the process of strategic planning and the importance of missions and goals, corporate and business-unit strategies, and resources and opportunities to an organization’s strategy. We then explore how to implement the marketing strategy and the creation of the marketing plan. These elements provide a framework for an analysis of the development, implementation, and evaluation of marketing strategies, as we will see throughout the remainder of this book.
LECTURE OUTLINE
I. Introduction
A. Strategic marketing management is the process of planning, implementing, and evaluating the performance of marketing activities and strategies, both effectively and efficiently.
a. Effectiveness is the degree to which long-term customer relationships help achieve an organization’s objectives/
b. Efficiency refers to minimizing the resources an organization uses to achieve a specific level of desired customer relationships.
B. The overall goal of strategic marketing management is to facilitate desirable customer relationships and reduce costs.
II. The Strategic Planning Process
A. The process of strategic planning helps a firm establish an organizational mission and formulate goals, a corporate strategy, marketing objectives, and a marketing strategy (see Figure 2.1).
1. The process begins with the establishment or revision of an organization’s mission and goals.
2. The corporation and individual business units then develop strategies to achieve these goals.
3. The company then analyzes its strengths and weaknesses and identifies opportunities and threats within the external marketing environment.
4. Each functional area of the organization establishes its own objectives and develops strategies to achieve them, which must support the organization’s overall goals and mission and should be focused on market orientation.
III. Establishing Organizational Mission Statements and Goals
A. The goals of any organization derive from its mission statement, a long-term view or vision of what the organization wants to become. An organization’s mission really answers two questions:
1. Who are our customers?
2. What is our core competency?
B. A company’s mission, goals, and objectives must be properly implemented to achieve and communicate the desired corporate identity—a company’s unique symbols, personalities, and philosophies.
