Developing Marketing Strategies and Plans - Corporate and division strategic planning
11 important questions on Developing Marketing Strategies and Plans - Corporate and division strategic planning
What are the 4 planning activities of the corporate headquarters?
- Defining the corporate mission
- Establishing strategic business units
- Assigning resources to each strategic business unit
- Assessing growth opportunities
What are the 5 major characteristics of a good mission statement?
- Focus on a limited number of goals
- Stress the company's major policies and values
- Define the major competitive spheres within which the company will operate
- Take a long-term view
- As short, memorable and meaningful as possible
What 2 types of market definitions are there?
- Target market definition: focuses on selling a product or service to a current market. e.g. Pepsi could define their market as anyone who drinks carbonated soft drinks. Competitors are then other carbonated soft drink companies.
- Strategic market definition: also focuses on the potential market. e.g. Pepsi could also consider everyone who might drink something to quench their thirst. Competitors are then then also non-carbonated soft drinks, bottles water, fruit juices, etc.
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
For my 1st exam I got a C. Then, I started looking for ways to learn better and I came across Study Smart. Since then I have scored a A+, A, A- and another A. I highly recommend it to everyone who wants to hear it. I am so happy with it!!
I was struggling to finish all my first-year subjects for 3 years. Then I discovered Study Smart, which helped me to finish all of them within 3 months.
Because of StudySmart, things are going well in many ways. Before, I always had study stress and no time for anything. Now I feel calm and confident (because of the program). I used to score a B, now I usually score an A or A+.
Hey Chris, I really want to thank you very much for developing the platform, I usually got around C for my exams, now I scored an A+, an A and a A- !!
Since using Study Smart, my average has increased significantly. I even completed a statistics course with a A+ while I'm bad at statistics. I took on extra courses this year, because of Study Smart. Thanks so much!
Ever since I started studying with StudySmart I passed all my exams !!! No more re-sits!! At first, I was happy with a pass and now I only get good grades. Many thanks!
I aced all the courses I studied with Study Smart. For law, I first scored a D, and now an A! I’m 100% sure that I’ll pass all the courses I study with Study Smart.
I always thought I studied well. My grades were fine. I could never have imagined that applying these study skills would have such a huge and direct impact on my grades, my speed and the pleasure I have in learning.
For the first time, I finally feel totally confident about the way I learn. I have the perfect overview and make great progress in terms of speed and the grades I get. Thanks, Chris!
I immediately started to enjoy learning again, and my grades soared. All of a sudden, everything went better. I highly recommend Study Smart to all students..
Being able to create my materials online made the process of studying so much smoother and quicker. I no longer have to spend a huge amount of my time on creating my summaries.
At first, my notes were a mess. Now I use Study Smart to take my notes in a perfectly structured way. It helps me to save a lot of time and do other things I enjoy.
Students that study with Study Smart get better grades. The system applies all the learning methods in such a way that both well-performing students and students who struggle perform much better.
Hi Chris, I would like to thank you very much. Last year I scored C on a course, and this year I got an A+ thanks to your method! Thank you very much!
The largest effect is that my child is more enthusiastic about school! Every parent wants their children to be happy at school, Study Smart made it happen.
In high school, I failed several exams, and that has really changed now. I actually needed this tool very much back then. Since I started studying with StudySmart, I haven't had any D's. My average score is now an A and those are results I would have never had in the past
With my old method, I passed only 3 out of 8 courses. Since I started taking my notes digitally in Study Smart, I have passed all my courses on the first try. For me, StudySmart takes away the stress of wondering if I will pass or not.
Thanks to StudySmart, I passed all my exams, and with better grades than before! On top of that, I have mastered a very good study method now, which I am confident will help me earn my degree.
Assigning resources to each SBU
- BCG's Growth- share matrix (dogs, cash cows, question marks and stars)
What can happen to a SBU?
- expansion, repositioning or retargeting and strategic outsourcing
What are the characteristics of a strategic business unit (SBU)?
- It is a single business, or a collection of related businesses, that can be planned separately from the rest of the company.
- It has its own set of competitors.
- It has a manager responsible for strategic planning and profit performance, who controls most of the factors affecting profit.
What types of growth are there?
- Intensive growth: identifying opportunities for growth within current businesses.
- Integrative growth: identifying opportunities to build or acquire business related to current business.
- Diversification growth: identifying opportunities to add attractive unrelated business.
How can you fill the strategic-planning gap?
- Identify opportunities for growth within current business (intensive opportunities)
- Identify opportunities to build or acquire business related to current business (intergrative oppotunities)
- Identify opportunities to add attractive unrelated businesses (diversification opportunities)
What are the 4 strategies for intensive growth?
- Market-penetration strategy: can you gain more market share with the current product in the current market?
- Market-development strategy: can you find or develop new markets for the current product?
- Product-development strategy: can you develop new products for the current market?
- Diversification strategy: can you develop new products for new markets?
What is intensive growth?
- First course of action of corporate management
- Review of opportunities for improving existing businesses
Explain organization and corporate culture.
- Organization: consists of a company's structure, policy and corporate culture.
- Corporate culture: the shared experiences, stories, beliefs and norms that characterize an organization. The way people dress, talk and greet costumers.
Senior management has to get ideas from three groups for innovation:
- Employees with youthful or diverse perspectives
- Employees far removed from company headquarters
- Employees new to the industry
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
