MKTG1021 Lecture Notes - Lecture 2: Customer Satisfaction, Core Competency, Swot Analysis
Document Summary
Objective to provide a strategy and tactics and keep an eye on targets - calculating success. % of a market controlled by one company"s product. Looks at products and puts resources towards the products that they assume are going to be most profitable. Cash cows make a lot of money but they grow slowly. Question marks are usually new products or aren"t sure how to get into the market. Dogs have failed, need to be phased out. Selling new products to an existing base of customers. Core competency: know how to bottle, distribute, manufacture. When there"s a trend towards more healthy drinks this core competency to transition bottle, distribute, and promote a new healthier product (like water) Good relations with suppliers, factories and retailers. Going into regions you have to know what"s important to the area. You need to know the target market. New products, new forms of comms, new retail channels.
