Description

Develop a business mission statement.

Overview
Assignment
Part One: Introduction
Part Two: Resources
Part Three: Prompts and Guiding Questions

1. Why do we, as a company, exist? In other words, what is our company’s core purpose; what is our company’s business? Where is our company going—today, tomorrow, or even 10 years from now? 
2. What is our market focus? Specifically:

• Who does our company serve?

• What value do we provide?

• Why do consumers want to do business with our company?

• A mission statement should focus on the market or markets the organization is attempting to serve rather than on the good or service offered (Lamb, Hair, & McDaniel, 2013, p. 22).

• Avoid marketing myopia and its opposite.

• Avoid ambiguous language.

This week’s strategic marketing document explores the first element of a marketing plan: the business mission statement. Your Marketing Planning Document will be broken down into four sections. 

Note: Marketing Planning Documents should be a collaborative effort and developed as a team. In other words, work on each part together as a group. Do not assign sections to various individuals and then attempt to mash them together into a final document).

You will introduce this week’s topic by describing the marketing planning process as a whole. (What is it? What purpose does it serve? What components/elements make up a marketing plan, etc.?) You will conclude your introduction by introducing the mission statement and discussing its purpose within the marketing planning process.

Review what you learned in Lesson 2 about the marketing planning process, including the online course content as well as the Developing Successful Organizational and Marketing Strategies chapter in your textbook. You may also want to review Lesson 1 for ideas to enhance your content (i.e., what is your company’s marketing management philosophy/ philosophies?). Note: Be sure to incorporate insights you gained from the Practice Marketing tutorial. You are also encouraged to conduct independent research to enrich your own learning. Please remember to cite your work properly.

When developing your mission statement, keep these key characteristics in mind: A mission statement is a short statement that is memorable, inspiring, and market focused. In order to achieve this, answer the following questions:

Remember:

Based upon the work you conducted in Part Three, develop a business mission statement for your company. As part of your Marketing Planning Document's conclusion, provide insights you gained from this assignment that you had not initially gleaned from the course material or textbook reading.