MKT 300 Study Guide - Midterm Guide: Market Segmentation, Blue Ocean Strategy, Baby Boomers
14 Jan 2017
School
Department
Course
Professor
Document Summary
Module #1: strategic marketing fundamentals:review of qualitative concepts and. Set specific marketing goals using key metrics: planning, implementation and control metrics, evaluation using key metrics. Situation analysis > macroenvironment > immediate industry and competitive environment. Needs: utilitarian, functional, emotional, social, symbolic, etc. Focus on a niche or small segment. Complementors: products sold which are complementary to the one the firm sells. Roic tells us how much value (capital) the company creates. Roic= net operating profits after taxes/total invested capital. Demand side or network effects- windows, autocad. Weapons for competing and factors affecting strength of rivalry. Managers should use industry knowledge to develop a strategy that positions the firm favourable in the industry based on its capabilities. Distinguishing features of the five generic competitive strategies. Automobiles-fuel efficient technology, autonomous driving = safer cars, hybrids and electric. Pure competition: when many suppliers sell essentially the same product (grape growers, ontario.
