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The Cross-Functional Perspective in Planning (Figure 1.6) A Blueprint for Management Action (Figure 1.7) Portfolio Models - A Review of Portfolio Theory Experience Curve and Resulting Profit (Figure A.1) Portfolio Models – BCG Model The Boston Consulting Group Portfolio Model (Figure A.2) Portfolio Models – The General Electric Model The General Electric Portfolio Model (Figure A.3) Portfolio Models – The General Electric Model Components of Industry Attractiveness and Business Strength at GE (Figure A.4) 1-* Strategic Planning and the Marketing Management Process Chapter 1 Copyright ? 2011 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Key Terms Marketing Concept, Strategic Planning, Mission Statement, Organizational Objectives, Organizational Strategies, Competitive Advantage, Organizational Portfolio Plan, Marketing Information Systems, Marketing Research, Cross-Functional Teams The Marketing Concept Marketing concept means that an organization should seek to make a profit by serving the needs of customer groups The marketing function should find effective and efficient means of making the business do what suits interests of customers What is Marketing? The American Marketing Association defines marketing as “an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders” Major Types of Marketing (Figure 1.1) What is Strategic Planning? Before managers can develop plans for individual departments some larger plans or blueprint for the organization should exist Objectives and strategies established at the top level provide context for planning in each of the divisions and departments Strategic Planning Includes all activities that lead to development of a clear organizational mission, objectives, and appropriate strategies Plays a key role in achieving equilibrium between short and long t