Key Preparatory Tasks
Decide on the objectives (goals to be achieved)
– more medium to longer term, usually 3 years
– both corporate and marketing objectives
Corporate objectives
– usually financial e.g. profits, shareholder returns (dividends or capital growth)
– other investor objectives (ethical, environmental).
Marketing objectives
– about products and markets e.g. level of sales, market share
Need to be SMARTT
– specific, measureable, achievable, realistic, targeted and time framed
Decisions at strategic, tactical and operational levels
– This is how you achieve your objectives
– They are your functional business strategies
Production
– factories, automated lines
Human resources
– number of employees, wages, terms
Finance
– funds invested, bank finance, stock valuation
Marketing
– product (type and features), place (which market segments), price, promotion (for
company or product)
Company name
Company vision
Corporate objectives (e.g. related to return on investment, profit, or
shareholder funds)
Corporate strategy (basis on which you compete)
Marketing objectives (model specific)
Marketing Strategy (relate this to the 4 Ps)
