MKT 100 Lecture Notes - Lecture 2: Human Resource Management, Marketing Mix, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Tatiana Astray

Document Summary

Ch2: developing marketing strategies and a marketing plan. Marketing strategy: identifies a firm"s target market(s), related marketing mix (4 p"s) and the bases upon which the firm plans to build a sustainable competitive advantage. Marketing plan: a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm. Step 1: define the business missions and objectives. Step 3: identify and evaluate opportunities by using stp. Step 4: implement marketing mix and allocate resources. Step 5: evaluate performance by using marketing metrics. Situational analysis (using swot): second step in a marketing plan, assesses both the internal environment with regards to its (s)trengths, (w)eaknesses and the external environment in terms of its (o)ppotunities and (t)hreats. Targeting: target marketing/targeting: the process of evaluation the attractiveness of various segments and then deciding which to pursue as a market.