MKT 100 Lecture Notes - Lecture 2: Symbian, Fitbit, Canada Goose

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Steven Chuang

Document Summary

Competitive moves and business approaches that management uses to run the company. Where those moves/approaches are intended to deliver long term competitive advantage and superior performance. Marketing strategies are a discipline within management. Consumer would be all of society who are perspective buyers. Customer is somebody who has previously done business with you. A marketing strategy identifies: a fir(cid:373)"s target (cid:373)arket, a related marketing mix the 4 p"s, the bases upon which the firm plans to build a sustainable competitive advantage, s. c. a. When a sufficiently large # of buyers develop a preference for its products/services over those of its competitors: ex. When this preference persists over time: facebook vs myspace (superior product) When this preference results in superior long-term profits: nintendo vs atari (ongoing innovation) Walmart (walmart is the largest retailer in the world, able to reduce costs by ordering in bulk) Focus on a narrow market niche canada goose (niche being winter wear)