MKT 100 Lecture Notes - Lecture 2: Swot Analysis, Marketing Mix, Amazon Kindle

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

Document Summary

2 or more parties with unsatisfied needs. Identify consumer needs and wants: segment, target and position (stp, develop and execute a marketing program based on the marketing mix (4ps, build profitable customer relationships, manage product portfolio. Competitive moves and business approaches that management uses to run the company. Intended to deliver long term competitive advantage and superior performance. Bases upon which the firm plans to build a sustainable competitive advantage. When a sufficiently large number of buyers develop a preference for its products/ services over those of its competitors. When this preference results in superior long-term profits. Strategic approaches that can lead to a sustained competitive advantage: develop a cost based advantage, develop a differentiation based advantage, focus on a narrow market niche, develop competitively important resources and capabilities. What does it need to accomplish to achieve its goals and objectives. Examples of factors when doing a swot analysis. Step 3: identify and evaluate opportunities by using (stp)