MKT 100 Lecture Notes - Lecture 2: Marketing Mix, Starbucks, Operational Excellence

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Julie Kellershohn

Document Summary

Describe the elements of a marketing plan. Analyze a marketing situation using a swot analysis. Explain how a firm chooses what consumer groups to pursue. A related marketing mix- the 4 p"s. The bases upon which the firm plans to build sustainable competitive advantage. The three most important things in retailing are location, location, location. Companies that excel more excel in more strategies. Tim hortons: our guiding mission is to deliver superior quality products and services for our guests and communities through leadership, innovation and partnerships. New market segments (domestic, international) not currently being served. Increase directly in proportion to the level of sales or production, in dollars or units. Change in proportion to the activity of a good business. Sometimes referred to as cost of goods sold (cogs) Wages of temporary or part time employees. Variable costs increase directly in proportion to the level of sales of production, in dollar or units.