MKT 100 Chapter 2: Chapter 2.docx

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Joanne Mc Neish

Document Summary

Planning and executing the plan are crucial to success. A poorly executed plan leads to failure, regardless of how good or solid the plan is. The world is full of good plans poorly executed. When initially introduced, diapers designed differently for boy and girls bombed because the market was not ready for the product; through improved execution, the diaper manufacturer ultimately found success. However, even well-executed plans require monitoring and updating, because the needs of any market constantly change. After completing the situation audit, the next step is to identify and evaluate opportunities for increasing sales and profits using stp (segmentation, targeting, and positioning) The acme coach company produces buses and has only one product. To make each bus, the company needed to purchase of raw materials and components. In order to turn the raw materials and components into a bus the company had 6 labourers, which made each per bus produced.