Business Foundation and Marketing Principles

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Definition of Marketing

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Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

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Understanding Customers

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Marketing helps businesses understand who their customers are.

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Product Delivery Strategy

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Marketing develops strategies for delivering products effectively.

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Vision Statement Definition

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A vision statement is a short statement that describes the future-facing goals and ambitions of a company.

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A mission statement expresses a company’s core values and purpose.

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It often uses a “to statement” template and is a concise phrase.

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A strong mission statement sets forward what the company does.

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It explains how the company does it and, sometimes, why.

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Mission statements can provide a general statement about company values.

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They also outline the company’s goals.

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Mission statements are usually about two to three sentences long.

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They are concise and to the point.

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A mission statement can explain why a company does what it does.

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This adds depth to the company’s purpose.

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Key focus of Starbucks' mission

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Inspiring and nurturing the human spirit.