Marketing Notes:

Steps 2 and 3 of marketing process:

designing customer driven marketing strategies and constructing marketing

programs.
Opening vignette to the chapter on Nike
1 What has caused Nike's lasting popularity?
2 What has been the company's primary strategy?
3 What is Nike doing to ensure its future growth and success?
First Stop: Nike's customer driven marketing
To build image and market share, Nike

o
Outspent competitors on big endorsements
o
Conducted splashy promotional events
o
Started bug-budget ads
Nike sales slipped in the late 1900s

Turnaround--new product innovation and a focus on customer relationships

o
Mastered
Company-Wide Strategic Planning
Strategic planning is the process of developing and maintaining a strategic fit

between the org's goals and capabilities and its changing marketing
opportunities.
Strategic planning sets the stage for the rest

Companies usually prepare annual plans, long-range plans, and strategic

plans
The annual and long-rang plans deal with the company's current business

and how to keep them going.

In contrast, the strategic plan involves adapting the firm

Company Strategic Planning

Mission Statement
A mission statement is a statement of the org's purpose-- what it wants to

accomplish in the larger environment.

A clear mission statement acts as an "invisible hand" that guides people in

the org.
Mission statements should be market oriented and defined in terms