Sonic External Analysis

Mission

A mission answers the question "what business are we in?" The mission is usually a paragraph or two identifying what the business stands for and its basic operating philosophy. The mission statement is a decided by the corporate level of the business.

Corporate Strategy

According to Professor Julie Wolf from Harvard Business School, corporate strategy examines the logic of where a firm should compete, how these choices fit with the company's key assets (resources) and where a firm's boundaries should be drawn. After these questions are answered, the internal organization is examined.

Goals and Objections (Corporate Strategy)

The mission statement of a business will state its goals that it hopes to achieve. These goals are then translated into specific (measureable) objectives. Objectives should be written simply, clearly, and in quantitative form so that they can be accurately matched.

Marketing Strategy

The marketing strategy refers to how the firm will manage its relationships with customers in a manner that gives it an advantage over the competition of the business. It will deal with product, distribution, promotion, and price. By improving and constantly changing these four aspects of the business that business will gain a competitive advantage. This becomes the businesses marketing strategy. It will be changing according to the competition in that specific target marketing.

Goals and Objectives (Marketing Strategy)

Goals and objectives are formal statements of the desires and expected outcomes resulting from the marketing plan. Goals are broad but simple statements that will be accomplished through the marketing strategy. Objectives are more specific and essential to the planning. Objectives should be written in quantitative form so that they can be accurately achievable.

Source

www.hbs.edu/mba/academics/coursecatalog/1230.html

1. Why is marketing ethics a strategic consideration in organizational decisions? Who is most important in managing marketing ethics: the individual or the firm's leadership? Explain your answer.

Marketing ethics is a strategic consideration in organizational decisions because the ethical climate comes from the character of the organization. Corporate policies and codes, the conduct of top managers, the values and moral philosophies of coworkers, and opportunity for misconduct all contribute to a firm's ethical climate. When top managers strive to establish an ethical climate based on responsibility and citizenship, they set the tone for ethical decisions. The firm's leadership is the most important in managing marketing