Saturday, June 18, 2016

Mission Statements and Marketing

Writing a marketing plan? Don't skip the mission statement. A carefully-crafted mission can highlight the company or brand's purpose, identify who is being targeted, explain what the value is, and inspire by looking ahead. The mission should guide marketing, both external and internal, just as it is meant to guide management.

Some mission statements are specific, some are more general, but all should be forward-looking and encourage aiming high for a corporate purpose. Inc. has a good article about inspirational mission statements here.

Below is a sample of mission statements from leading companies, along with a bit of my own commentary:
  • PepsiCo: "to provide consumers around the world with delicious, affordable, convenient and complementary foods and beverages from wholesome breakfasts to healthy and fun daytime snacks and beverages to evening treats." [My take: Nicely specific, identifies the customer base and the product categories, includes benefits and attributes for brand image.]
  • Coca-Cola: "to refresh the world...inspire moments of optimism and happiness...create value and make a difference." [My take: Relates to the product mix, has a very upbeat tone and appeals to stakeholder audiences, but could be more specific.]
  • Nike: "bring inspiration and innovation to every athlete in the world." [My take: Direct, indicates customers, highlights core competencies, and positive.]
  • Microsoft: "to empower every person and every organization on the planet to achieve more." [My take: Rather broad, doesn't identify any particular customer group or product category, but aspirational wording is a plus.]
  • Samsung: "In everything we do, we strive to help people live better lives." [My take: Too broad, despite positive and aspirational tone, and can be applied to nearly any customer group and any product category.]
  • Sony: "to be a company that inspires and fulfills your curiosity." [My take: Another positive statement, but lacks specifics and has no obvious connection with the brand and its heritage and products] 
  • tronc (the "new" company brand for what was Tribune): to be a "content curation and monetization company" to "leverage innovative technology to deliver personalized and interactive experiences." [My take: vague, no indication of what "content" is--news? entertainment?--and seems more focused on technology and monetization than indicating the customer base]

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