MKT 100 Chapter Notes - Chapter 2,3: Nespresso, Machine Industry, Habitat

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Fathima Saleem

Document Summary

Chapter 2: developing marketing strategies and a marketing plan. Step 2: situation analysis: understanding what is happening in environment, take what is relevant and utilize it for decision making (small or large) Need to state the implication for decision: how to capitalize/leverage strengths, how to address weaknesses, how to take advantage of opportunities, how to mitigate or minimize the threats. Decision: to sell nespresso capsules at third party retailers. Strength: nespresso has a strong brand image in the home coffee machine industry. Implication: not a lot of marketing expenditures will be required and more customers can be gained: market development cause expanding customer base, market penetration cause allows customer to get more and more of existing products. Must identify implication (what it means for decision) or else it will be. Decision: to sell nespresso capsules at 3rd party retailers. Threat: consumers prefer everyday products to be widely available and accessible.