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Chapter 02 - Developing Successful Organizational and Marketing Strategies

B. What Is Strategy? 

An organization has limited human, financial, technological, and other resources available to produce and market its offerings—it can’t be all things to all people!

Strategy is an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals. a. All organizations set a strategic direction. b. Marketing helps to set a strategic direction and to move the organization there.

C. The Structure of Today’s Organizations [Figure 2-1] Large organizations are very complex and consist of three levels: 1. Corporate Level. Is the level in an organization where top management directs overall strategy for the entire organization. Consists of: a. Board of directors, individuals both inside and outside the organization. b. Chief executive officer (CEO), the highest ranking officer in the organization. 

CEOs must possess leadership skills.

CEOs must have the expertise to: –

Oversee the organization’s daily operations.

Spearhead its strategic planning efforts.

c. Chief marketing officer (CMO), who: 

Develops and implements the organization’s strategy to achieve its goals.

Must think strategically to deliver value to the organization.

Must have:

Multi-industry backgrounds.

Analytical skills.

Cross-functional expertise.

Intuitive marketing insights.

Is often called upon to be their organization’s visionary.

2. Strategic Business Unit Level. Is the level in multimarket, multiproduct firms where managers manage a portfolio or groups of businesses. a. A strategic business unit (SBU) is a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined target market.

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Solutions for Marketing 14th Kerin  

Solutions Marketing 14th Edition Kerin 2019 (Solutions Manual Download) (9781259924040) (1259924041). Instant access. All chapter are includ...

Solutions for Marketing 14th Kerin  

Solutions Marketing 14th Edition Kerin 2019 (Solutions Manual Download) (9781259924040) (1259924041). Instant access. All chapter are includ...