Read the pages and make a brief summary of them with your own words, please. Mention important parts. Also, you will put your comments and ideas about the topic. please don't write item by item

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Read the pages and make a brief summary of them with your own words, please. Mention important parts. Also, you will put your comments and ideas about the topic. please don't write item by item

In developing the mission statement for any organiza-
tion, one should apply the following rules of thumb:
. Cost leadership
. Strong management team
. Efficient technological processes
mission statements for the three organizations introduced in
the previous section.
Assess these mission statements using the three W's-
who, what, and where-as the criteria. In the first example,
ICC describes who it is as follows: "a business-development
Conducting the SWOT Analysis
sustainable competitive advantage. The following are examples
of external opportunities that organizations may have:
. Describe the who, what, and where of the organization,
making sure the who component describes the organiza-
tion and its customers.
The rationale for conducting a SWOT analysis before pro-
ceeding with the development of the strategic plan is that the
organization's plan should produce a good fit between its in-
ternal situation and its external situation. An organization's
internal situation is defined by its strengths and weaknesses.
An organization's external situation is defined
tunities and threats
The strategic plan should be designed in such a way that it
exploits an organization's strengths and opportunities while
simultaneously overcoming, accommodating, or circumvent-
ing weaknesses and threats.
1 Availability of new customers
. Expanding market for existing or potential or planned
products
- Ability to diversify into related products and services
. Removal of barriers that inhibit growth
. Failures of competitors
- New online technologies that enhance productivity or quality
- Talented workforce
company
their
I to helping organizations continually im-
r ability to compete in the global marketplace." This
. Faster time to market
These are just some of the strengths an individual or-
ganization may have; many others are possible. The key is
accurately defining an organization's strengths before begin-
ning to develop its strategic plan.
prove
description of who ICC is also describes who its customers
are. Regardless of whether both "whos
one sentence, both should be explained in the mission What
ICC does is described as follows: "provides high-quality,
competitiveness-enhancing products and services" From this
. Be brief, yet comprehensive. Typically, one paragraph
should be sufficient to describe an organization's mission.
. Choose wording that is simple, easy to understand, and
descriptive.
. Avoid how statements. How the mission will be accomplished
is described in the "Strategies" section of the strategic plan.
by
explained in
the
can be
oppor-
that exist in its business environment.
Identifying Organizational Weaknesses An organi-
zational weakness is any characteristic or capability that puts
the organization at a competitive disadvantage. These are ex-
amples of common organizational weaknesses:
Of course, other external opportunitics might be avail-
able to an organization besides these. You need to identify all
such opportunities accurately before undertaking the strate-
gic planning process.
mine what the company does. Where ICC is going:
as reaching "an ever-increasing number of organizations in
the United States" Clearly, ICC wants to grow as much as pos-
sible within the geographic boundaries of the United States,
an outsider with no knowledge of ICC could deter-
is described
Identifying Organizational Strengths An organiza-
tional strength is any characteristic or capability that gives
the organization a competitive advantage. The following are
examples of common organizational strengths:
. Strategic confusion or lack of direction
. Obsolete facilities
- Obsolete processes
- Weak management team
. Insufficient skills or capabilities in the workforce
- Poorly defined operating procedures
- Too narrow a product line
- Products with decreasing demand
- Too diverse a product line
• Poor image in the marketplace
- Weak distribution system
. Weak financial position
- High unit costs compared with those of competitors
- Poor quality in products and services
Identifying External Threats An external threat is a
phenomenon in an organization's business environment that
has the potential to put the organization at a competitive dis-
advantage. Such external threats might include the following:
In the second example, BEA describes who it is as a "do
air carrier
mestic air carrier dedicated to prov
with nfe
air transportation." This simple statement describes
both who BEA is and who its customers are. BEA is a do-
to providing business travelers
- Financial strength
- Good reputation in the marketplace
• Strategic focus
Iligh-quality products and services
- Proprietary products and services
is a do
mestic air carrier, and its customers are business
What BEA does is described as "providing business travel-
travelers.
. Entry of lower-cost competitors
. Entry of higher-quality competitors
1 Increased sales of substitute products and services
. Significant slowdown in market growth
. Introduction of costly new regulatory requirements
• Poor supplier relations
• Changing tastes and habits ot consumers
. Potentially damaging demographic changes
air transportation that exceeds their expectations"
Where BEA is going can be seen in the following portion of
the mission statement: "BEA provides air carrier service to
and from a steadily increasing number of major hub airports
in the United States." Like ICC, BEA wants to grow continu-
érs
ally in the United States.
In the third
example, Pendleton Manufacturing describes
dedi-
who it is as a "hazardous materials storage company
caled to making your work environment safe and healthy"
Many other external threats might confront an organi-
zation. Accurately identifying every potential external threat
before you begin the strategic planning process is a must.
From this statement, one can easily discern who Pendleton
Manufacturing and its customers are. Any company that ei-
ther produces hazardous waste or uses toxic materials is a po-
duces
tential customer. What Pendleton Manufacturing does is de-
scribed as follows:
These are just a few of many weaknesses an organiza-
tion may have. The main thing is to identify an organization's
weaknesses accurately before undertaking the strategic plan-
ning process.
Developing the Mission
duces high-quality fireproof cabinets
for safely storing toxic substances and hazardous materials"
Where Pendleton Manufacturing is going can be seen in that
Cabinets
We have just seen that the vision statement describes what an
organization would like to be. It's a dream, but it's not "pie in
the sky." The vision represents a dream that can come true. The
mission takes the next step and describes who the organization
is, what it does, and where it is going. Figure 3.3 contains the
part of the tinal sentence of the mission statement that says
it wants to serve "an ever-broadening market in the United
States"
All three of the companies in these examples want to
grow continually but only in domestic markets. No interest
is expressed in international markets. This is a major strate-
gic decision that will determine the types of actions taken to
achieve their respective missions.
Identifying External Opportunities External oppor-
tunities are opportunities in the organization's business envi-
ronment that represent potential avenues to grow and gain a
• The Institute for Corporate Compatitiveness (CC) is a business-devalopment
company dedicated to holping organizations continually improve their ability to
compete in the global marketplace. To this end, ICC provides high-quality,
competitiveness-enhancing products and services to an ever-increasing number
of organizations in the United States.
• Business Express Airlines (BEA) is a domestic air carrier dedicated to providing
business travelers with air transportation that exceeds their expectations in terms
of cost, convenience, service, and dependability. To this end, BEA provides air
carrier service to and from a steadily increasing number of major hub airports in
the United States.
• Pendleton Manutacturing Company is a hazaraous materials storage company
dedicated to making your work environment safe and healthy. To this end, Pendleton
produces high-quality fireproof cabinets for safely storing toxic substances and
hazardous materials for an ever-broadening market in the United States.
QUALITY TIP
Strategic Vision
Strategic leadership begins with a strategic vision. According
to Burt Nanus, a strategic vision is a "realistic, credible, attrac-
tive future for an organization." Source: www.au.af.mil/aulawc/
awcgate/ndu/strat-Idr-dm/pt4ch18.html. Retrieved on January3,
2012.
FIGURE 3.3 Sample Mission Statements.
Transcribed Image Text:In developing the mission statement for any organiza- tion, one should apply the following rules of thumb: . Cost leadership . Strong management team . Efficient technological processes mission statements for the three organizations introduced in the previous section. Assess these mission statements using the three W's- who, what, and where-as the criteria. In the first example, ICC describes who it is as follows: "a business-development Conducting the SWOT Analysis sustainable competitive advantage. The following are examples of external opportunities that organizations may have: . Describe the who, what, and where of the organization, making sure the who component describes the organiza- tion and its customers. The rationale for conducting a SWOT analysis before pro- ceeding with the development of the strategic plan is that the organization's plan should produce a good fit between its in- ternal situation and its external situation. An organization's internal situation is defined by its strengths and weaknesses. An organization's external situation is defined tunities and threats The strategic plan should be designed in such a way that it exploits an organization's strengths and opportunities while simultaneously overcoming, accommodating, or circumvent- ing weaknesses and threats. 1 Availability of new customers . Expanding market for existing or potential or planned products - Ability to diversify into related products and services . Removal of barriers that inhibit growth . Failures of competitors - New online technologies that enhance productivity or quality - Talented workforce company their I to helping organizations continually im- r ability to compete in the global marketplace." This . Faster time to market These are just some of the strengths an individual or- ganization may have; many others are possible. The key is accurately defining an organization's strengths before begin- ning to develop its strategic plan. prove description of who ICC is also describes who its customers are. Regardless of whether both "whos one sentence, both should be explained in the mission What ICC does is described as follows: "provides high-quality, competitiveness-enhancing products and services" From this . Be brief, yet comprehensive. Typically, one paragraph should be sufficient to describe an organization's mission. . Choose wording that is simple, easy to understand, and descriptive. . Avoid how statements. How the mission will be accomplished is described in the "Strategies" section of the strategic plan. by explained in the can be oppor- that exist in its business environment. Identifying Organizational Weaknesses An organi- zational weakness is any characteristic or capability that puts the organization at a competitive disadvantage. These are ex- amples of common organizational weaknesses: Of course, other external opportunitics might be avail- able to an organization besides these. You need to identify all such opportunities accurately before undertaking the strate- gic planning process. mine what the company does. Where ICC is going: as reaching "an ever-increasing number of organizations in the United States" Clearly, ICC wants to grow as much as pos- sible within the geographic boundaries of the United States, an outsider with no knowledge of ICC could deter- is described Identifying Organizational Strengths An organiza- tional strength is any characteristic or capability that gives the organization a competitive advantage. The following are examples of common organizational strengths: . Strategic confusion or lack of direction . Obsolete facilities - Obsolete processes - Weak management team . Insufficient skills or capabilities in the workforce - Poorly defined operating procedures - Too narrow a product line - Products with decreasing demand - Too diverse a product line • Poor image in the marketplace - Weak distribution system . Weak financial position - High unit costs compared with those of competitors - Poor quality in products and services Identifying External Threats An external threat is a phenomenon in an organization's business environment that has the potential to put the organization at a competitive dis- advantage. Such external threats might include the following: In the second example, BEA describes who it is as a "do air carrier mestic air carrier dedicated to prov with nfe air transportation." This simple statement describes both who BEA is and who its customers are. BEA is a do- to providing business travelers - Financial strength - Good reputation in the marketplace • Strategic focus Iligh-quality products and services - Proprietary products and services is a do mestic air carrier, and its customers are business What BEA does is described as "providing business travel- travelers. . Entry of lower-cost competitors . Entry of higher-quality competitors 1 Increased sales of substitute products and services . Significant slowdown in market growth . Introduction of costly new regulatory requirements • Poor supplier relations • Changing tastes and habits ot consumers . Potentially damaging demographic changes air transportation that exceeds their expectations" Where BEA is going can be seen in the following portion of the mission statement: "BEA provides air carrier service to and from a steadily increasing number of major hub airports in the United States." Like ICC, BEA wants to grow continu- érs ally in the United States. In the third example, Pendleton Manufacturing describes dedi- who it is as a "hazardous materials storage company caled to making your work environment safe and healthy" Many other external threats might confront an organi- zation. Accurately identifying every potential external threat before you begin the strategic planning process is a must. From this statement, one can easily discern who Pendleton Manufacturing and its customers are. Any company that ei- ther produces hazardous waste or uses toxic materials is a po- duces tential customer. What Pendleton Manufacturing does is de- scribed as follows: These are just a few of many weaknesses an organiza- tion may have. The main thing is to identify an organization's weaknesses accurately before undertaking the strategic plan- ning process. Developing the Mission duces high-quality fireproof cabinets for safely storing toxic substances and hazardous materials" Where Pendleton Manufacturing is going can be seen in that Cabinets We have just seen that the vision statement describes what an organization would like to be. It's a dream, but it's not "pie in the sky." The vision represents a dream that can come true. The mission takes the next step and describes who the organization is, what it does, and where it is going. Figure 3.3 contains the part of the tinal sentence of the mission statement that says it wants to serve "an ever-broadening market in the United States" All three of the companies in these examples want to grow continually but only in domestic markets. No interest is expressed in international markets. This is a major strate- gic decision that will determine the types of actions taken to achieve their respective missions. Identifying External Opportunities External oppor- tunities are opportunities in the organization's business envi- ronment that represent potential avenues to grow and gain a • The Institute for Corporate Compatitiveness (CC) is a business-devalopment company dedicated to holping organizations continually improve their ability to compete in the global marketplace. To this end, ICC provides high-quality, competitiveness-enhancing products and services to an ever-increasing number of organizations in the United States. • Business Express Airlines (BEA) is a domestic air carrier dedicated to providing business travelers with air transportation that exceeds their expectations in terms of cost, convenience, service, and dependability. To this end, BEA provides air carrier service to and from a steadily increasing number of major hub airports in the United States. • Pendleton Manutacturing Company is a hazaraous materials storage company dedicated to making your work environment safe and healthy. To this end, Pendleton produces high-quality fireproof cabinets for safely storing toxic substances and hazardous materials for an ever-broadening market in the United States. QUALITY TIP Strategic Vision Strategic leadership begins with a strategic vision. According to Burt Nanus, a strategic vision is a "realistic, credible, attrac- tive future for an organization." Source: www.au.af.mil/aulawc/ awcgate/ndu/strat-Idr-dm/pt4ch18.html. Retrieved on January3, 2012. FIGURE 3.3 Sample Mission Statements.
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