MKT 100 Lecture Notes - Lecture 2: Competitive Advantage, Operational Excellence, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Thomas Barbiero

Document Summary

Module 2- developing marketing strategies and a plan (ch. 2) Nike"s brand name is like a wall, starbucks & tims both make coffee but target different kinds of consumers looking for different experiences). Having a strong brand name and making products that revolutionize current ways of doing things (eg. buying music on itunes stores): locational excellence having a good physical location & internet presence. Sca received from location is long term bc it is not easily duplicated. Firms need a written doc of marketing plan. Implementation - where marketing managers identify and evaluate different opportunities by engaging in a process known as segmentation, targeting, and positioning (stp). They then develop and implement the marketing mix by using the four ps: control - the part of the strategic marketing planning process when managers evaluate the performance of the marketing strategy and take any necessary corrective actions. Strengths (internal) resources, brand names, mgtment/ technical talent, network reach, location, strong loyal customer b.