MKT 100 Chapter Notes - Chapter 2: Swot Analysis, Marketing Mix, Smartbook

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

Document Summary

Smartbook ch 2: developing marketing strategies and a marketing plan. 3) advantage a firm"s target market a related marketing mix-the four p"s the bases upon which the firm plans to build sustainable competitive. Sustainable competitive advantage: an advantage over the competition that is not easily copied and thus can be maintained over a long period of time. A competitive advantage acts like a wall that the firm has built around its position in a market. This wall makes it hard for competitors to contact customers inside. Firms achieve operational excellence, the second way to achieve a sustainable competitive advantage, through their efficient operations, excellent supply chain management, and strong relationships with their suppliers. A marketing plan is a written document composed of ann analysis of the current marketing situation, opportunities and threats for the firm. Step 1: define the business mission and objectives. After developing its mission, a firm next must perform a situation analysis, using a.