MKT 100 Lecture Notes - Lecture 3: Swot Analysis, Marketing Week, Uber Eats
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MKT 100 Full Course Notes
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3 things to look at during mice environmental analysis. Helps to organize your thoughts to develop company goals and strategies. Tools include: competitive analysis, product analysis, process analysis. We must consider the things that we have the ability to affect that are internal (eg: bad hr) or is it something we cannot change? (eg: the canadian currency rate) Opportunities are positive changes in the market place for us they might not be ideal for another company. Threats are negative changes in the marketplace that may affect the company. Typically opportunities and threats correspond between companies within the same market. (eg: if fast food sales are down wendy"s and mcdonald"s are affected) You must always be comparing relative to your competitors. Our strengths and weaknesses are our internal factors. Strong brand reputation (allows you to spread to new areas and be successful) Deep pockets (this happens when you have stars and cash cows)
