These objectives must match with the mission statement.
The objectives must be- Analyzing the current business portfolio The major activity in strategic planning is business portfolio analysis.
The marketing strategy for this is to hold the market share to maintain the profit margin in the competitive market.
Cash cow: cash cow is low-growth, high-share businesses or products.
Portfolio analysis is a tool by which management identifies and evaluates the various businesses making up the company.
By analyzing the current business portfolio management put their strong resources into their more profitable business and phase down or drops its weaker business.
We tried our best to fetch all the possible information and include them in a relevant manner.
Marketing“Marketing is the social and managerial process, by which individuals or groups obtain what they need and want through creative and exchanging products and values with others by considering social well being.”Philip Kotler Gray Armstrong Principles of marketing Marketing, the process by which a product or service originates and is then priced, promoted, and distributed to consumers.
Marketing concentrates primarily on the buyers, or consumers.
After determining the customers’ needs and desires, marketers develop strategies that are designed to educate customers about a product’s most important features, persuade them to buy it, and then to enhance their satisfaction with the purchase.