MKT 100 Lecture Notes - Lecture 2: Swot Analysis, Nikeid, Epcot

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

Planning phase: mission and objectives and swot analysis. These decisions are based of of your swot analysis as it gives you ideas of what else is in the market and allows you to plan where and to who you will target your product on the market. Step 1: defining the mission and or vision good mission statements. Step 2: conduct a situation analysis using swot (see picture) Strengths are internal, good thing about the company. Weaknesses are also internal and are bad things about the company. Opportunities are external meaning outside of the company and are positive. Threats are also outside the company and external although negative. Targeting: what is the perception of the company from customers. Step 3: identifying and evaluating opportunities using stp. Many fctors contribute to a firms overall performance: compare a frims performance ovr time or to competing firms, view the firms products or services as a portfolio.