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Lecture 3

MKT 100 Lecture Notes - Lecture 3: Ebay, Marketing Mix, Swot Analysis


Department
Marketing
Course Code
MKT 100
Professor
Laila Rohani
Lecture
3

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STRATEGIC PLANNING FOR COMPETITIVE ADVANTAGE
STRATEGIC PLANNING 3 levels
Corporate sets the direction and scope
mission statement, business opportunities, and resource allocation
Business takes place at the SBU level; goal is to gain a competitive advantage
Marketing target market and marketing mix activities
DECISIONS
(work) Strategic made at all 3 levels, wider in scope, longer in orientation
affect long-run course, allocation of resources, and financial success
(battle) Tactical made at operational/marketing level, narrow scope, short-term
limited impact of long run profitability
directed from strategic decisions made at the corporate level
DEFINING THE MISSION/VISION Good Mission Statements
1. Focus on limited number of goals (it's good to be simple)
2. Stress Major policies and values
3. Define major competitive spheres (can be products or services)
4. Take a long-term view (should have a futuristic perspective; 3-5 years long term)
5. Short, memorable, meaningful
Mission Statement eBay (may be too general)
Amazon (emphasis on customer benefits)
SWOT strength, weakness, opportunities, threats; used to conduct a situation analysis
S & W Internal; about the company
O & T External; outside the company, less control
Opportunities: cultural, demographic, social, technology, political, economic (anything
that can positively influence your company); e.g buying another company
Threat: new competition, change in political laws, natural or manmade disasters,
negative change in social/cultural events (like opportunities but negative)
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