1. How can corporate objectives be derived from the corporate mission?

- First we have to understand what is corporate objectives and corporate mission:

 Corporate objectives are specific, measurable, and achievable statements that
outline what a company wants to accomplish in order to fulfill its mission. They
provide a way of purpose and direction for the company, and help to ensure that all
employees are working towards the same goals.
 Corporate missions, on the other hand, are broad statements that describe a
company's purpose and values. They are typically motivated and do not contain
specific targets or deadlines.

 Here is how to derive corporate objectives from a corporate mission:

- Break the mission statement down into its key components. (main goals, values,
achievement,…)
- Identify specific objectives that will help to achieve each of the key components.
Use the SMART keys (specific, measurable, achievable, relevant, time-bound).
- Prioritize the objectives and develop a plan. (timelines, resource allocation, and
performance evaluation )
- Communicate the objectives to all employees and stakeholders.
- Monitor progress and make adjustments as needed.
2. What is the purpose of a SWOT analysis?
-The purpose of a SWOT analysis is to assess and evaluate an organization's internal
Strengths and Weaknesses, as well as external Opportunities and Threats. It provides a
structured framework for understanding an organization's current position and strategic
planning. By summarizing an organization's internal capabilities and external factors, a
SWOT analysis helps identify strategic insights and potential areas for improvement,
enabling better decision-making and strategy development.
3. How can a SWOT analysis be carried out? What are the critical issues?
A SWOT analysis is a framework used to evaluate a company’s competitive position and to
develop strategic planning. It assesses internal and external factors, as well as current and
future potential. The analysis is designed to facilitate a realistic, fact-based, data-driven look
at the strengths and weaknesses of an organization, initiatives, or within its industry. The
organization needs to keep the analysis accurate by avoiding pre-conceived beliefs or gray
areas and instead focusing on real-life contexts. Companies should use it as a guide and not
necessarily as a prescription.

Steps to carry out a SWOT analysis:

+Define the objective: Identify the objective of the SWOT analysis. This could be a specific
project, a new product, or the company as a whole.
+Gather information: Collect data from internal and external sources. Internal sources
include company reports, financial statements, and customer feedback. External sources
include market research, industry reports, and competitor analysis.
+Identify strengths: Determine what the company does well, what sets it apart from
competitors, and what advantages it has over others.
+Identify weaknesses: Determine what the company needs to improve, what it lacks, and
what disadvantages it has compared to others.
+Identify opportunities: Determine what external factors could benefit the company, such as
new markets, emerging technologies, or changes in regulations.
+Identify threats: Determine what external factors could harm the company, such as new
competitors, economic downturns, or changes in consumer behavior.
+Analyze the results: Analyze the data collected and identify patterns, trends, and
relationships between the different factors.
+Develop a plan: Based on the results of the analysis, develop a plan to address the issues
identified.
Some critical issues to consider when carrying out a SWOT analysis include:
+Objectivity: It is important to remain objective and avoid preconceived beliefs or biases.
+Accuracy: Ensure that the analysis is based on accurate and reliable data.
+Realism: Focus on real-life contexts and avoid gray areas.
+Flexibility: Use the analysis as a guide and not necessarily as a prescription.
+Actionability: Develop a plan to address the issues identified.

4. What are the differences between marketing objectives and marketing

strategies?

Marketing Objectives Marketing Strategies

The specific goals that a
Definition company wants to achieve
through its marketing efforts.
Specific, measurable,
Typical
achievable, relevant, and time-
characteristics
bound. (SMART)
Ensure the company is on track
Provide a framework for
Role
developing marketing strategies.
Relationship Complementary.
Help companies make informed
Guide marketing efforts towards
Importance
achieving overall business goals.
The plans that a company
develops to achieve its
marketing objectives.
Outline specific actions the
company will take.
to achieve its marketing
objectives.
Work together to effectively
plan and execute marketing
efforts.
decisions about resource
allocation and marketing
activities.

5. What purpose may a product portfolio serve in the context of a

marketing strategy?

- The advantage here is that the various products – the product portfolio –
can be managed so that they are not all in the same phase in their life
cycles. Having products evenly spread out across life cycles allows for the
most efficient use of both cash and human resources.

- Product portfolio analysis focuses on the interrelationships of products within a

product mix. The performance of the mix is emphasised rather than the
performance of individual products.