MKT 337 Study Guide - Midterm Guide: Market Environment, Swot Analysis
Document Summary
A written document that acts as a guidebook of marketing activities for organization. : (1) examines marketing environment; (2) creates common awareness of marketplace factors; (3) establishes strategies and activities that work toward stated objectives; and (4) basis for comparison of actual and expected performance. A(cid:374)s(cid:449)e(cid:396)s the (cid:395)uestio(cid:374), (cid:862)what (cid:271)usi(cid:374)ess a(cid:396)e (cid:449)e i(cid:374)? (cid:863) Key mission statement characteristics: (1) limited number of goals; (cid:894)(cid:1006)(cid:895) t(cid:396)esses (cid:272)o(cid:373)pa(cid:374)y"s (cid:373)ajo(cid:396) poli(cid:272)ies a(cid:374)d (cid:448)alues; (cid:894)(cid:1007)(cid:895) Defines major competitive spheres where company operates; (4) takes a long-term view; and (5) short, memorable, and meaningful. Environmental scanning: the collection and interpretation of info about forces, events, and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan. Examples include social, demographic, economic, technological, political, legal, and competitive. Swot analysis: s- things company does well (strengths); w-
