PRINCIPLES OF                 MARKETING             Competitive Advantage 2                      Ashraf Alsinglawi        ...
Business Plans: How to Develop             a Business Mission Statement                Companies must develop an         ...
Business Plans: How to Develop             a Business Mission Statement                Why Have A Mission Statement?     ...
Business Plans: How to Develop             a Business Mission Statement                The statement must identify the   ...
Business Plans: How to Develop             a Business Mission Statement                EX.                Facebooks miss...
Business Plans: How to Develop             a Business Mission Statement                How To Develop An                 ...
Business Plans: How to Develop             a Business Mission Statement                Step One: The Mission Statement   ...
Business Plans: How to Develop             a Business Mission Statement                Step Two: The Mission Statement   ...
Business Plans: How to Develop             a Business Mission Statement                Step Three: The Mission Statement ...
Summary                Its very important for all                 companies to create a business                 mission ...
Here is the test to find             whether your mission on             Earth is finished: if youre                   ali...
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Competitive advantage 2

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Principles of Marketing

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Competitive advantage 2

  1. 1. PRINCIPLES OF MARKETING Competitive Advantage 2 Ashraf Alsinglawi B.Sc Pharmacy, MBA17/02/2013 Ashraf Alsinglawi 1
  2. 2. Business Plans: How to Develop a Business Mission Statement  Companies must develop an effective business mission statement in order to have an effective foundation for their marketing plan.17/02/2013 Ashraf Alsinglawi 2
  3. 3. Business Plans: How to Develop a Business Mission Statement  Why Have A Mission Statement?  The importance of a mission statement is that it communicates to the consumers and investors the reason the company is selling their product.  The mission statement is based on an analysis of benefits sought by customers and a summary of the business environmental conditions.  It should summarize the entire reason a company is in business, and what the purpose of the product is in relationship to the consumer.17/02/2013 Ashraf Alsinglawi 3
  4. 4. Business Plans: How to Develop a Business Mission Statement  The statement must identify the boundaries and beliefs of the company to ensure that it will have long-term success and be able to make the correct decisions and strategies.  It will also be the foundation for any marketing plan.17/02/2013 Ashraf Alsinglawi 4
  5. 5. Business Plans: How to Develop a Business Mission Statement  EX.  Facebooks mission is to give people the power to share and make the world more open and connected.  Googles statement, which says, We want to organize the worlds information and make it universally accessible and useful.17/02/2013 Ashraf Alsinglawi 5
  6. 6. Business Plans: How to Develop a Business Mission Statement  How To Develop An Appropriate Mission Statement:  What kind of business we are serving and what is the purpose.  So the company needs to make sure that its mission statement passes the three-step test:17/02/2013 Ashraf Alsinglawi 6
  7. 7. Business Plans: How to Develop a Business Mission Statement  Step One: The Mission Statement Cannot Be Too Narrow  When a business mission statement is too narrow, its called marketing myopia.  It means defining a business in terms of goods and services rather than in terms of the benefits customers seek.17/02/2013 Ashraf Alsinglawi 7
  8. 8. Business Plans: How to Develop a Business Mission Statement  Step Two: The Mission Statement Cannot Be Too Broad  Ex. making products to improve the overall quality of life, it would be too broad.  This would be providing no direction for the business overall, and this is a difficult statement upon which to create an effective marketing plan.17/02/2013 Ashraf Alsinglawi 8
  9. 9. Business Plans: How to Develop a Business Mission Statement  Step Three: The Mission Statement Should Be Balanced  Must be just right and balanced to reflect the products purpose and consumer benefit.  It has to focus on its markets, explain who is served, describe the benefits reached and define what its customers seek.  If the company is extremely large then each business unit will have its own separate business mission statement.17/02/2013 Ashraf Alsinglawi 9
  10. 10. Summary  Its very important for all companies to create a business mission statement. The mission statement is the foundation for any marketing plan. A statement must not be too narrow or too broad, or it will not result in the correct foundation to build an effective marketing strategy.17/02/2013 Ashraf Alsinglawi 10
  11. 11. Here is the test to find whether your mission on Earth is finished: if youre alive, it isnt. alsinglawi@gmail.com +96279950400317/02/2013 Ashraf Alsinglawi 11

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