In simple language, we can define the term ‘Market’ as the place where the seller and
buyer meets, makes the transaction between two parties and that is how the economy of any
country runs basically. But before producing and meeting the consumer to make the transaction
happen, manufacturer first need to study the market properly. They should have to understand
the needs of the customer and they should have to work accordingly to satisfy those needs better
than their competitors. Likewise, the marketing may not be the approach only to sell the tangible
products but also might be the intangible products like providing services to the people, it can be
done in favor of particular person, place and the organization.
After the thorough study of the market and the customer needs, now the organization
should have to develop its strategic plan in order to achieve its organization goal. Every
organization should have its organizational mission, objectives and strategies clearly mentioned
to keep the organization and its people aligned to its goal. Firstly, the organizational mission is
considered as the road map for the organization to achieve the desired goals. We should have to
take in account to the organizational policies, accomplishments, competencies, opportunities and
threats which might affect in achieving the desired organizational goals. Similarly, the mission
statement for any organization should not be vague but should be achievable, motivating and
specific. Secondly, the organizational objectives which can be defined as the short-term and
medium-term goal in order to achieve the overall strategic goal of the organization.
Organizational objectives are necessary in order to improve the performance and to ensure the
long-run survival of the organization. In third place, we can see the organizational strategies
