MKT 100 Lecture Notes - Lecture 2: Perforce Software, Swot Analysis, Competitive Advantage

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Francescucci

Document Summary

Chapter 2: developing marketing strategies and a marketing plan. Marketing strategy: identi es the rms target markets. Sustainable competitive market: something the rm can do better than its competitors, that"s not easily copied. Operational excellence: focus on different operations and excellent supply chain management. Product excellence: focus on achieving high quality products and effective branding and positioning. Implementation phase: where marketing managers identify and evaluate different opportunities by engaging in a process known as segmentation, targeting and positioning. They then develop and implement the marketing mix using the four p"s. Control phase: part of the strategic planning process where mangers evaluate the performance of the marketing strategy and take any necessary corrective actions. Situational analysis: uses swot that assesses both the internal environment with regard to its strengths, weaknesses and the external environment in terms of its opportunities and threats. Step 3: identify and evaluate opportunities" by using stp (segmentation, targeting, and positioning)