MKT 100 Study Guide - Final Guide: Fisher-Price, Caffeine, Types Of Chocolate

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fernando Pardo

Document Summary

Strengths strong partners/brand rep, experience, knowledge, research, patents. Weaknesses weak partners, poor distribution reach, bad brand representation. Opportunities industry/lifestyle change, new market segment, information, innovation. Threats competitor innovations, falling market demand, loss of key staff. Political trends, environment regulation, consumer protection. Economic market + trade cycles, inflation, jobs, distribution trends. Socio-cultural media views, education, brand, consumer values + attitudes. Technological research funding, innovations, intellectual property issues. The matrix is used to determine growth strategies. Market penetration: seeks to achieve growth w/ same existing products in their current market segment (want more mkt share) Market development: seeks growth by targeting its existing products to new mkt segments. Product development: developing new products but targeting back towards the same mkt segment. Diversification: grows by diversifying into new business by developing new products/service for an entirely new mkt segment. Pure monopoly: one seller who sets price for unique product. Monopolistic competition: many sellers who compete on non-price factors.