MKT 100 Lecture 2: Lecture 02 - Developing Marketing Strategies

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: All

Document Summary

Identi es a rms target markets, a related marketing mix, and the bases upon which the rm plans to build a sustainable competitive advantage. Revised about every 5 years based on what happens in the rm. Plays a fundamental role in satisfying customers. Firms do not always follow these 5 steps and are not sequential. Is never written down because the strategy is always changing and they do not have a de ned formal marketing plan. Step 1 de ning the mission and objectives. A broad statement of the business objectives and the activities it will undertake. The heart and stroke foundation mission is to improve the health of canadians by preventing and reducing disability and death ) Also what needs to be done to achieve our goals (eg. Tim horton"s our guiding mission is to deliver superior quality products and services for our customers and communities through leadership, innovation, and partnerships.