* Organizational Strategies Based on Value firms must seek to build long-term relationships with their customers by offering a unique value that only they can offer. It seems that many firms have succeeded by choosing to deliver superior customer value using one of three value strategies—best price, best product, or best service. What Is Strategic Planning? * Choosing an Appropriate Strategy Management should select those strategies consistent with its mission and capitalize on the organization’s distinctive competencies that will lead to a sustainable competitive advantage. A sustainable competitive advantage can be based on either the assets or skills of the organization. Technical superiority, low-cost production, customer service/product support, location, financial resources, continuing product innovation, and overall marketing skills are all examples of distinctive competencies that can lead to a sustainable competitive advantage. What Is Strategic Planning? * Organizational Portfolio Plan When profits and resources (financial and nonfinancial) are becoming more and more scarce, choices must be made. Management must decide which businesses to build, maintain, or eliminate, or which new businesses to add. Indeed, much of the recent activity in corporate restructuring has centered on decisions relating to which groups of businesses management should focus on. strategic business units (SBUs) What Is Strategic Planning? * It can be defined as “the process of planning and executing the conception, pricing, promotion, and distribution of goods, services, and ideas to create exchanges with target groups that satisfy customer and organizational objectives.” The Marketing Management Process * Figure1.5 Strategic Planning and Marketing Planning The Marketing Management Process * Situation Analysis can be divided into six major areas of concern: (1) the cooperative environment; (2) the competitive environment; (3) the economic environment; (4) the
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