recently launched two new motorcycle models for women. Product development laboratories introduced a new line of healthy snacks called Curate Bars.
Examples: Market introduced all day breakfast. Characteristics: Distinct mission and specific target market Control over its resources Its own competitors A single business or a collection of related businesses Plans independent of other SBUs in the total organization Strategic Alternatives: Ansoffs Strategic Oppurtunity Matrix: A method for developing alternatives is strategic opportunity matrix, which matches products with markets Market penetration: Increase market share among existing customers Market development: Attract new customers to existing products Product development: A strategy entailing the creation of new products for present markets Diversification: A strategy of increasing sales introducing new products into new markets Exhibit 2 Opportunity Matrix Opportunity Matrix is one of the most commonly used tools to determine a strategic direction. Strategic Business Units: A strategic business unit (SBU) is a subgroup of a single business or a collection of related businesses within the larger organization. Starbucks opened the Starbucks Reserve Roastery and Tasting Room in Seattle. Walmart decides to close its Walmart Express locations.
Examples of strategic decisions: has unveiled plans to allow customers to customize their orders. Strategic errors can threaten a survival, but a good plan can help protect and grow the resources. Strategic decisions require commitments of resources. Preview text Principles of Marketing Chapter 2 Strategic Planning for competitive advantage: Creating and maintaining a fit between the objectives and resources and the evolving market opportunities Addresses two questions: What is the main activity at a time? How will it reach its goals? The goal of strategic planning is profitability and growth.