Product

Strategic planning sets the stage for the rest of the planning in the firm. Companies usually prepare annual plans, long-range plans, and strategic plans. The annual and long-range plans deal with the company’s current businesses and how to keep them going. In contrast, the strategic plan involves adapting the firm to take advantage of opportunities in its constantly changing environment PAGE 39   The product that I am choosing to sell are whole-grain pancakes. It is to provide as a healthier alternative to have for breakfast. The pancakes absolutely MUST be whole-grain; none of the refined and bleached stuff. The whole-grain part of the product is the entire point of this sell, because it is supposed to showcase the benefits of eating whole-grain food. The whole-grain pancakes also have blueberries added to them for that fresh fruity taste without any added sweetness to it. The pancakes will also taste great and hopefully will debunk any myths or incorrect rumors about foods that provide healthier benefits, since anything that is diet is deemed as bland, tasteless, or just awful. And since eating whole-grain products is more than just enjoying a simple stack of pancakes for breakfast, I am hoping that it will introduce the idea of living a healthier lifestyle, as if the pancakes act as a gateway for a better life. At the corporate level, the company starts the strategic planning process by defining its overall purpose and mission (see Figure 2.1). This mission is then turned into detailed supporting objectives that guide the whole company. Next, headquarters decides what portfolio of businesses and products is best for the company and how much support to give each one. In turn, each business and product develops detailed marketing and other departmental plans that support the company wide plan. Thus, marketing planning occurs at the business-unit, product, and market levels. It supports company strategic planning with more detailed plans for specific marketing opportunities PAGE 39 This is the experience of choosing to eat whole-grain pancakes. Others will also benefit from the selection of whole-grain pancakes, which are those in the Philippines who are in need of relief from the disaster caused by a hurricane. Not only the customer will be receiving something positive for themselves, but also to those who are less fortunate.