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Strategic planning and mission statement

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Marketing involves a range of processes concerned with finding out what consumers want, and then providing it for them. This involves four key elements, which are referred to as the 4Ps. A useful …

Marketing involves a range of processes concerned with finding out what consumers want, and then providing it for them. This involves four key elements, which are referred to as the 4Ps. A useful starting point therefore is to carry out market research to find out about customer requirements in relation to the 4Ps.

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  • 1. Click to add text Principles of Marketing Strategic Planning and Mission statement Ahmad Idrees
  • 2. Strategic Planning Annual plan—A short-term plan that describes the company’s current situation, its objectives, the strategy and budgets for the year ahead. Strategic Planning – The process of developing and maintaining strategies to maximize the capabilities of organizations to achieve the objective in the changing marketing environment. Normally ,long term (for 3-5 years or even more).
  • 3. Mission A Mission is a statement of organisation’s purpose – what it wants to achieve in the wider environment.
  • 4. Mission Statement Normally tells …. What is our business? What are our customers? If we work for profit or not?
  • 5. Marketing Environment The organization's marketing environment is made up of: 1. The internal environment e.g. staff , office technology, wages and finance, etc. 2. The micro-environment e.g. , agents and distributors, suppliers, our competitors, etc. 3. The macro-environment e.g. Political (and legal) forces, Economic forces, Sociocultural forces, and Technological forces. These are known as PEST factors..
  • 6. The Planning Process 1. Situational Analysis 2. Objectives 3. Strategy 4. Action Plans 5. Control Feedback
  • 7. Marketing Audit It is recommended to do Marketing Audit at various stages. It is an examination of a company’s environment, strategies and activities to understand problems and opportunities. Under findings of a marketing audit, a plan of action is recommended to improve company’s marketing performance.
  • 8. PEST ANALYS  PEST Analysis is the scan of external macro environment of an organisation. PEST is abbreviation of POLITICAL & LEGAL, ECONOMIC , SOCIAL , TECHNOLOGICAL We learn about all these above mentioned factors in order to understand the environment where an organisation operates. Following Slides will present example of a generic PEST Analysis.
  • 9. PEST ANALYSIS 1. Political and Legal  Monetary policies  Social legislation & regulations  Government relationship with industries  Legislation special related to marketing  Employment Laws  Government Stability  And similar factors.
  • 10. PEST ANALYSIS 2. Economic  Business cycles marked by recessions & booms  Gross domestic product (GDP)  Real income  Inflation  Interest rates  Seasonal Variations
  • 11. PEST ANALYSIS 3.Social & Cultural  Change in consumption pattern  Difference in life style  Two income families  Changing gender roles  Health & environmental issues  Religious Events
  • 12. PEST ANALYSIS 4.Technological  Computer/internet usage  E-commerce  Change in lifestyle  Research Funding  Consumer Buying  Global Communications  Competition in Development of Technology
  • 13. With the help of PEST Analysis we try to understand that how these external factors are affecting the organisation and can affect in coming future.