MKT10008 Key Term matrix Control (see also slide 21 for process) Implementation Mission statement A statement of the organisation's purpose - what it wants to accomplish in the larger environment. Planning Portfolio Product-market expansion grid SMART objectives Strategic planning Topic 2 SWIN BUR NE. SWINBURNE UNIVERSITY OF TECHNOLOGY Definition BCG (Boston Consulting Group) Growth-share Matrix: BCG growth-share A portfolio planning method that evaluates a company's strategic business units (SBUs) in term of its market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks or dogs. Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are achieved. Marketing controls: ? Set marketing goals ? Measure performance ? Evaluate Causes of differences ? Take corrective actions Marketing implementation is the process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives. Business portfolio planning consists of two step: (1) Analyse the current portfolio (2) Shape the future portfolio The business portfolio is the collection of businesses and products that make up the company. A portfolio planning tool for identifying company growth opportunities through market penetration, market development, product development or diversification. Specific Measurable Achievable Realistic Time Strategic planning is the plan for long-run survival and growth that adapts the organisation's capabilities to take advantage of opportunities; it sets the stage for all other planning in the organisation. Page 1 of 2 .. @Copyright: 2016 Swinburne University of Technology <UniLink & MKT Glossary Topic 2 > Version <1 > CRICOS: 0011D TOID: 3059 10/10/2018>
MKT10008 Topic 2 SWIN BUR NE SWINBURNE UNIVERSITY OF TECHNOLOGY It is the process of developing and maintaining a strategic fit between the organisations goals and capabilities and its changing marketing opportunities. CRICOS: 0011D TOID: 3059 10/10/2018> Page 2 of 2 --- @Copyright: 2016 Swinburne University of Technology <UniLink & MKT Glossary Topic 2 > Version <1 >