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 |  Marketing A McGraw Hill and QUT Custom Publication
Linking Marketing and Corporate Strategies
Learning ObjectivesChapter 19 - Outline
AFTER READING THIS CHAPTER YOU SHOULD BE ABLE TO:
- Describe the three organizational levels of strategy and how they relate to each other and the marketing function.
- Describe why business, mission, culture, and goals are important in organizations.
- Understand how organizations set strategic directions by assessing where they are now and seek to be in the future.
- Describe the strategic marketing process and its three key phases: planning, implementation, and control.
- Explain how the marketing mix elements are blended into a cohesive marketing program.
- Describe how marketing control compares actual results with planned objectives and acts on deviations from the plan.
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Chapter 19 - Summary
- Today's large organizations, both business firms and nonprofit organizations, are often divided into three levels: the corporate, business unit, and functional levels.
- Marketing has a role in all three levels by keeping a focus on customers and finding ways to add genuine customer value. At the lowest level, marketing serves as part of a team of functional specialists whose day-to-day actions actually involve customers and create customer value.
- Organizations exist to accomplish something for someone. To give organizations focus, they continuously assess their business, mission, values and culture, and goals.
- Setting strategic directions for an organization involves asking "Where are we now?" to assess the organization's customers, competencies, and competitors. It also involves asking "Where do we want to go?" that uses techniques like portfolio analysis and market-product analysis.
- An organization's success rests on four building blocks: customer relationships, innovation, quality, and efficiency.
- The strategic marketing process involves an organization allocating its marketing mix resources to reach its target markets using three phases: planning, implementation, and control.
- The planning phase of the strategic marketing process has three steps, each with more specific elements: situation (SWOT) analysis, market-product focus and goal setting, and marketing program.
- The implementation phase of the strategic marketing process has four key elements: obtaining resources, designing the marketing organization, developing schedules, and executing the marketing program.
- The control phase of the strategic marketing process involves comparing results with the planned targets to identify deviations and taking actions to correct negative deviations and exploit positive ones.
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2003 McGraw-Hill Higher Education