MKT 504 Lecture Notes - Lecture 1: Pad Thai, Swot Analysis, Unique Selling Proposition
1 Oct 2020
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If you"re not progressing with the times, you will not be hired or discovered. Perception is the first thing you need to know about a brand. Once you understand who you are, you need everyone else to align with that perception. The tag line is a big part. Other people will try to define you but it"s really for you to define yourself and sometimes correct others. You can"t just abruptly change something major because it"ll change customer perceptions. You can"t be all things to all people (serve pizza and pad thai) Other people will feel closer to you if they understand what you"re about. He hasn"t changed his mission statement in 10 years. 4 steps to execution: product, price, place, promotion. The 5 c"s (gives you a good understanding of the environment in which you operate: company, customer, competitors, collaborators, climate, political, economic, socio-cultural, technological.
