Management and Organizational Studies 2320A/B Chapter Notes - Chapter 6: Old Navy, Micromarketing, Mass Customization

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Michael Aloisio

Document Summary

When starting an stp analysis, marketers first discuss market segmentation, or in other words, how a segmentation strategy fits into a firms overall strategy and objectives, and which segments are worth pursuing. Next, marketers will consider how to choose a target. Market by evaluating each segments attractiveness and, on the basis of this evaluation, choosing which segment(s) to pursue. The last step is the firm describing its positioning. Step 1: establish overall strategy or objectives the firms missions, objectives, and current situation (swot). The first step in the planning process is to articulate the mission and the objectives of the company"s marketing strategy clearly. Social lite"s objective is to gain trial in a very competitive market. Its weakness, however, was the fact that they are not a strengths are its health and wellness functional attributes, and its ability to place new recognized brand and the company has limited funds for promotion.