BUS 448 Lecture Notes - Lecture 4: Blue Ocean Strategy, Price Point, Brand Equity

• School: Stony Brook University
• Department: Business Management
• Course: BUS 448
• Professor: Camille Abbruscato

Document Summary

Bus 448 marketing strategy | chapter 4 (class) (5 in textbook) developing competitive advantage and strategic focus. Widely used framework for organizing and utilizing the pieces of data and information gained from the situation analysis. One of the most effective tools in analysis of environmental data and info. Staying focused: mistake to complete one generic swot for entire organization, swot analysis means analyses. Search extensively for competitors: info on competitors, 4 types of competition is important. Collaborate with other functional areas: info generated from swot analysis can be shared across functional areas, swot analysis can generate comm b/w managers of diff funct, creating environment for creativity and innovation. Strengths & weaknesses: interior, internal strengths vs internal weaknesses. Opportunity & threat: exterior, conditions of customer environment, competitive env. Analysis of these 4 types gives comprehensive knowledge of how to approach an issue. Can arise from internal and external sources. Competitive advantages can also be based more on perception than reality.