Chapter 2 - Mission Statement

In chapter 2, Featherman addresses what factors make up a marketing plan and explains how different marketing plans can be used in reaching specific marketing goals depending on the desired outcome. However, all marketing plans boil down to a company's mission statement, a clearly defined, straightforward plan of what the company hopes to achieve in its future endeavors. Professor Featherman defines a mission statement as "a formal paragraph in an organization's strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources." Above is an example of what a mission statement should look like, both structurally and visibly. Mission statements not only provide a general guideline for the company to follow, they also serve as brief descripions of an organization and their intentions, a notion that could be researched by both competitors and investors alike.