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Lecture 4

MKT 100 Lecture 4: Week 4

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Ryerson University
MKT 100
Yanina Chevtchouk

MKT100- Week 5 Midterm Review: 8:30 AM o 75 minutes long o 25% - ALL Multiple Choice o 50% (each question worth 2 marks) o Make sure you understand how to do the quantitative stuff but also the reasons why you would use something and what the numbers tell you o Know whether its competitive, opportunity, etc. o 50% theory (each question worth 1 mark) o Covers everything and until today o Online modules, class lecture, textbook o Bring Calculator, pencil, eraser, one card, batteries o Formula sheet will be provided (won’t help you determine fixed cost, variable cost, operating cost, etc.) o Watches not allowed, no water bottle lables. Situational Analysis: o Strategic Planning Marketing Planning Process o Corporate planning- long term(takes 5 years) o Strategic Planning Unit (3-5 years) o Fundamental Planning (1-3 years) o Ex: Corporate Planning (PEPSICO)- plan for 5 years o Functional planning- specifically for a certain brand (Cereal Captain) o FUNCTIONAL BUSINESS PLANNING PROCESS: o Step 1: Business Mission & Objectives o Step 2: Situational Analysis: SWOT o Step 3: Identify Opportunities (segmentation , targeting, positioning) o Step 4: Implement Marketing Mix o Step 5: Evaluate Performance o SWOT Analysis: o Controllable (internal) – STRENGTHS & WEAKNESSES o Strengths- Process competitive advantages, strong partners, strong bad reputation, experience, knowledge, excellent distribution reach, Team based culture, Company politics and values) o Weaknesses- Process competitive disadvantages, weak partners, weak brand reputation, inexperience, lack of knowledge, no resources, patents, assets, people, poor distribution reach, Bureaucratic culture o Opportunities- industry or lifestyle change, technological development and innovation, new global supply chain, increase in inputs costs such as oil o Threats- political, regulatory, economic, nature, falling market demand, changing consumer preferences, new competitive entries, new substitutes o Uncontrollable (external- affects everybody in the industry not just your firm specifically)- OPPORTUNITIES & THREATS o SWOT ANALYSIS o Macroenvironmental Analysis ▪ Informs Opportunities and Threats (based on strengths & weaknesses) ▪ Informs Strengths & Weaknesses ▪ Ex: Overall things aren’t going well economically, banks aren’t giving out anymore financing, if company is already doing well in finance, doesn’t mean you will have a threat o Each point in your SWOT must be supported by evidence ▪ Information from customers through marketing research ▪ Information from employees/ internal stemming from experience/ company reports ▪ Information from 3 party sources (e.g. Stat scan, news articles, etc.) ▪ As identify each of the SWOT, need to state the implications of your decision • How do you capitalize/ leverage the streng
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