MKT1040 Midterm: Marketing Midterm Study Sheet.docx
Document Summary
Identify internal strengths and weaknesses and external opportunities and threats: external analyze aspects of the marketing environment with environmental planning, environmental planning collection and interpretation of information about forces, events and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan, most studied forces are: social, demographic, economic, technological, political and legal, and competitive. Competitive advantage set of unique features of a company and its products that the target market thinks to be superior and significant compared to the competition: can be divided into three types, cost experience curves, efficient labour, no frills goods and services, product design/product innovations (ex. walmart, product/service differentiation firm provides something unique that is valuable to buyers beyond just low price (ex. Laptops: problem child business unit that shows rapid growth but poor profit margins, dog business unit that has low growth potential and a small market share (ex.
