MKT 100 Lecture Notes - Lecture 2: Boston Consulting Group, Competitive Advantage, Strategic Planning

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Katie Lebel

Document Summary

Marketing strategy: a fir(cid:373)"s target (cid:373)arket, a related marketing mix the fours p"s a(cid:374)d leads to a sustai(cid:374)a(cid:271)le (cid:272)o(cid:373)petiti(cid:448)e ad(cid:448)a(cid:374)tage. Sustainable competitive advantage: something that frim can constantly do better then the competition. (not easily copied and last a long time) Developing successful strategies: portfolio analysis boston consulting group matrix. Microsoft office = cash cow/ selfie lighting case = question mark: growth strategies. New target segment: sustainable competitive advantage, something better than competitors. In a way that is not easily copied: can be maintained. Efficient operations < - - > excellent supply chain management. Product excellence = achieving high perceived value and effective branding and positioning. Determining competitiveness: top 3 or 4 mkt share. Add up the market share of the top 3 or 4 firms in the industry. If top 3 or 4 share is: > 67% highly concentrated & highly uncompetitive, < 67% less concentrated & more competitive, herfindahl index.