MKT 100 Study Guide - Midterm Guide: Frito-Lay, Epcot, Wasabi

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Helene Moore

Document Summary

Planning phase marketing executives and other top managers define the missions and objectives of the business (step 1 and step 2) Implementation phase marketing managers identify and evaluate different opportunities (step 3 ad step 4 aka marketing strategy) Control phase managers evaluate the performance of the marketing and strategy and take any necessary actions (step 5) Strategic marketing planning process (in book: business mission and objectives, situation analysis + swot. Implement marketing mix: product, price, place, promotion, evaluate performance using marketing metrics. Step 2: conduct a situation analysis using swot. Threats (external: assess the opportunities and uncertainties of the marketplace due to changes in. Culture, demographic, social, technological, economic, and political forces (cdstep) Step 3: identifying and evaluating opportunities using stp. Step 4: implement marketing mix and allocate resources. After figuring out who to target and how to target the customers, it is then time to allocate your budget: ex: wal-mart, ikea, apple, dell.