MKTG1021 Study Guide - Final Guide: Aspirin, Interbrand, Rolex
Document Summary
Internal strengths and weaknesses: external opportunities and threats, where was firm where is it now where is it headed, provide strong foundation for making better marketing decisions, 3 c"s: customers, competitors, company (and collaborators (suppliers), scan environment: pest factors, competitive advantage superior to competitors, cannot be copied by competition profit margins, cost competitive advantage. Changing households + role of women: affects buying behavior, technology, new products and processes, how fast it is changing, r&d activity, influence outsourcing decisions, affect costs, quality and innovation. Competitive factors: number of competitors, relative size, degree of interdependence, management has little control over these, chapter 6, consumer decision making process. Ex: tide with bleach: extended decision making, unfamiliar and expensive, evaluating brands requiring a lot of time and effort, high risk ex: homes, car, 5 stages. Stage 1:problem recognition: buyer becomes aware of difference between desired state and actual condition, maybe unaware of problem/need, marketing trigger recognition of needs external and internal (upset)
