MARK 301 Lecture Notes - Lecture 1: Swot Analysis, Customer Engagement, Sales Promotion
14 Jul 2019
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Lecture 1: 5 step process, problem statement/issue identification, situation analysis, swot. Identification and evaluation of alternative strategies: quantitative & qualitative, recommendation & rationale, plan of action, promo, ad, problem statement. Will provide you a guideline for situation analysis; will know what is appealing to customers, know tactics. Customer surveys indicate a decrease in brand liking, we should address this with a new promotion campaign: decrease in brand liking. Given our recent success, we are ready to expand our business. We would like to see a 18% return on investment: expansion. Exhaustive swot analysis: listing all swot that relate to case. Highlighted swot analysis: select most important factors relevant to the problem at hand; 3-5 entries for each swot category. Opportunity: external factor (competitors, customers) that can help firm succeed. Make sure not too redundant: identification & evaluation of alternative strategies. Identification of alternative strategic solutions: identify alternative strategic solutions proposed to resolve the stated problem.
