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Consumer Behaviour

Autor:   •  March 8, 2011  •  Essay  •  790 Words (4 Pages)  •  1,498 Views

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Managers have to introduce clear vision and mission. They have to be ready for achieving the objectives and to implement a plan for achieving them. Vision refers to a future, where the company will be in the future and will be better than now. Mission statement refers to the present, now and here. It is associated with a way of behaving, while the vision is associated with a goal. When the company achieves its vision, a new one needs to be developed but the mission may remain the same. For example, Coca Cola's mission is to make a difference and create a value that "refreshes the world". Creating a strong mission statement is a successful way to achieve organizational objectives. The company's vision has to be strong as well because when a firm has a good combination of strong mission and vision; it is a strong competitor on the market.

Strategy

Strategy is the strategic plan how the company will achieve the organisational objectives; for instance, survival, business growth, profit maximisation, impact on society. It addresses the following questions: Where does the organisation want to be in the future? Where is our business? What should it be? The strategy's focus is on the managers' planning and decision-making responsibilities. Strategy includes development of the mission statement, statement of objectives, situational analyses, strategic development, strategic choice, implementation, control and feedback.

1.3.0 Corporate Identity

It is the way an organisation presents itself to its stakeholders. Through corporate identity organisations develop a strong channel for differentiation and create a mechanism for delivering values. The company's identity is "the set of meaning by which a company allows itself to be known and through which it allows people to describe, remember and relate to it" (Melewar 2008). It is the uniqueness of a company in its publics through its behaviour, objectives, strategy, resources and products. It is very important for organisations to create a strong corporate identity because of the attitudes they present in the society.

1.3.1Products and service

A company has to use the four Ps for product and the three Ps for the service. These elements are the main tools through which the organisation can differentiate itself from competitors.

Product

The product which the company wants to sell to customers has to be unique. This means that it needs

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