MKT 100 Lecture Notes - Lecture 2: Fixed Cost, Epcot, Income Statement

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Hamed Mehrabi

Document Summary

Chapter 2: developing marketing strategies and a marketing plan. A marketing strategy identifies: a firm"s target market(s), a related marketing mix the four ps, and, the bases upon which the firm plans to build a sustainable competitive advantage. Firms don"t always go through all these steps stick to existing objectives and revise the marketing plan. The marketing plan should be a written plan yet many companies do not write it down. Mission what the company is going to do now or doing now. Vision what the company hopes to achieve in the future. These factors can be considered in situational analysis. Having a stable political environment gives more opportunities for emerging companies. How to reflect on the swot analysis: internal under control of the firm, external not under control of the firm, firm decides whether or not they want to exploit different opportunities or not.