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Kotler and Keller (2012), “Goals indicate what a business unit wants to achieve; strategy is a game plan for getting there. Every business must design a strategy for achieving its goals, consisting of a marketing strategy and a compatible technology strategy and sourcing strategy.”
An organization’s mission statement should
Clearly outline the main purpose of the organization, and what they do.
Mention plans by organizations on achieving the mission statement
Mention audience of the mission statement.
Clearly outline the value organization provides
Provide answers to below questions:
1. Amazon.com Mission statement is “To be Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices.” Is this mission statement market-oriented, product-oriented, production-oriented or futuristic? Why?
2. The purpose of strategic planning is to find ways in which an organization can best use its strengths to take advantage of opportunities within the environment. In the past, Wal-Mart mission statement was, “We deliver low prices, every day.” Currently, Wal-Mart’s corporate mission is “to save people money so they can live better.” Using the knowledge from strategic formulation and unit’s reading, provide a possible reason for review of Wal-Mart’s mission statement.
The Portfolio Assignment entry should be a minimum of 500 words and not more than 750 words. Use APA citations and references if you use ideas from the readings or other sources.
1. Kotler, P., & Keller, K. (2012). Marketing Management (14th ed.). Upper Saddle River, New Jersey: Pearson Education.
http://library.aceondo.net/ebooks/Business_Management/Marketing_Management_14th.Edition.pdf Chapter 1 (pp. 3-27) – This chapter provides a brief definition of marketing for 21st century. You will learn the core concepts of marketing and marketing management tasks among others. Chapter 2 (pp. 32-60) – Explained the development of marketing strategies and plans. You will learn about the role of strategic planning and how to create innovative marketing. Chapter 9 (pp. 240-267) – This chapter explains Brand equity and how to build it. It also explained how to manage Brand equity and how to formulate a brand strategy. Chapter 10 (pp. 274-294) – In this chapters, you will learn differentiation strategies and how to craft brand positioning.