MKT 100 Lecture Notes - Lecture 2: Indian Oil Corporation

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

A situation analysis is the foundation of the strategic planning process for your marketing plan. It includes an examination of both the internal factors (to identify strengths and weaknesses) and external factors (to identify opportunities and threats). A useful tool in performing a situation analysis is what we might call the c"s of marketing. The c"s of marketing help companies focus on key elements that apply directly to marketing. The 5 c"s of marketing can be summarized as: Company - the product time line, experience in the market, etc. Collaborators (or partners) - distributors, suppliers, and alliances. These are any companies that you work with on a day to day basis to help your company run. Ask yourself what benefits they are looking for. Understand the quantity a customer will purchase and even trends in consumer tastes. Competitors - both your actual and potential competitors and those that directly or indirectly compete with you.