Note how the PepsiCo mission statement answers the question “What business are we in and where are we going?” In addition, it focuses on the market(s) rather than the good or service it sells.
Our mission is to be the world’s premier consumer products company focused on convenient foods and beverages. We seek to produce financial rewards to investors as we provide opportunities for growth and enrichment to our employees, our business partners and the communities in which we operate. And in everything we do, we strive for honesty, fairness and integrity.
Your task is to explain how your new product aligns with the company mission statement for the organization you chose.
Identify and analyze the organizational mission statement for the company for which you are writing a new product marketing plan.
Does the company’s mission statement focus on the market or markets that your new product/service is attempting to serve?
Is it broad enough to adequately describe the company’s focus and core values? Is it too broad? Does it encompass minute details?
Discuss the industry/market in which your company is doing business, who your target market is, and what the company’s long-term objectives are. Include data and research to support your analysis.
Hypothetical New Product: PepsiCo launches a line of plant-based protein bars marketed as a convenient and healthy snack option for active individuals.
Analyzing PepsiCo’s Mission Statement:
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“What business are we in and where are we going?” PepsiCo clearly states its core business as “consumer products” with a specific focus on “convenient foods and beverages.” The “where we are going” is implied by the word “premier” – to become the leading player in this space.
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Market Focus: The mission statement emphasizes the “consumer” and their needs, rather than the specific product itself. This broad focus allows PepsiCo to adapt to changing consumer preferences.
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Broadness and Focus: The mission statement is intentionally broad, encompassing financial rewards for investors, employee growth, and community engagement. This allows for diverse initiatives within the company’s core focus. However, some might argue it is too broad and lacks specifics about product innovation.
Hypothetical New Product: PepsiCo launches a line of plant-based protein bars marketed as a convenient and healthy snack option for active individuals.
Analyzing PepsiCo’s Mission Statement:
-
“What business are we in and where are we going?” PepsiCo clearly states its core business as “consumer products” with a specific focus on “convenient foods and beverages.” The “where we are going” is implied by the word “premier” – to become the leading player in this space.
-
Market Focus: The mission statement emphasizes the “consumer” and their needs, rather than the specific product itself. This broad focus allows PepsiCo to adapt to changing consumer preferences.
-
Broadness and Focus: The mission statement is intentionally broad, encompassing financial rewards for investors, employee growth, and community engagement. This allows for diverse initiatives within the company’s core focus. However, some might argue it is too broad and lacks specifics about product innovation.
