MKT 100 Lecture Notes - Competitive Intelligence, Perfect Competition, Oligopoly
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MKT 100 Full Course Notes
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Target market: product, price, place, promotion. Planning: business mission & objectives, situation analysis (swot) Control phase: evaluate performance using marketing metrics. Portfolio analysis: stars, question marks, cash cows, dogs. Growth strategies: market penetration, product development, market development, diversification. Sustainable competitive advantage: customer excellence, operational excellence, product excellence, locational excellence. Metrics: understanding & managing costs: variable, fixed: capital & operating. Implications: capitalize/leverage strengths, address weaknesses, take advantage of opportunities, minimize threats. Goal & strategy development: focus on plan goals, strategy, decision, develop contingency plans, watch list. Metrics: percentage change: % change = ((new amount old amount) / old amount) 100% Week 4: chapter 17: marketing ethics & social responsibility. Ethics vs social responsibility: both ethical and socially responsible, ethical firm not involved with the larger community, questionable firm practices, yet donates a lot to the community, neither ethical nor socially responsible. Identify issues: gather info, identify stakeholders, brainstorm and evaluate alternatives, choose course of action.