MKT 100 Lecture Notes - Lecture 3: Consumer Confidence, Habitat, Cash Flow

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Companies/brands can select from a number of strategies to lead to a sustainable competitive advantage. Firms can pursue strategies based on their product portfolio, on different growth strategies, and sustainable competitive advantage centered strategies. Companies conduct a situational analysis as a starting point in marketing planning to get a comprehensive idea of their micro and macro-environment. Swot analysis: strategy planning methodology (stanford u) Helps to organize your thoughts to develop our company goals and strategies. Tools include: competitive analysis, product analysis, process analysis. Start with : what is your objective, what are you trying to decided, and what are you attempting to solve for. Developing swot analysis: internal (strengths and weaknesses) Processes (value chain, or value delivery process: note: always need to be comparing to competitors. Developing swot analysis: external: external (opportunities and threats) 3rd party data: (stats can, news reports, industry trend reports, trade associations) Increase in input costs such as oil: threats.