MKT 100 Lecture Notes - Lecture 2: Brand Awareness, Fixed Cost, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Hamed Mehrabi

Document Summary

A related marketing mix the four p"s. The bases upon which the firms plans to build a sustainable competitive advantage. Co(cid:373)pa(cid:374)ies do(cid:374)"t write (cid:373)arketi(cid:374)g pla(cid:374)s (cid:271)e(cid:272)ause they are (cid:272)o(cid:374)sta(cid:374)tly (cid:272)ha(cid:374)gi(cid:374)g or do(cid:374)"t even have a strategic plan to write down. What do we need to do to achieve our goals. Mission statement is something that deals with what the firms is going to do right now. Be realistic, be specific, fit marketing environment, reflect competitive advantage, be motivating, and market oriented. Vision statement is what the firm is going to do in the future. External not under the control of the firm. Decided which target markets are attractive for the company. Step 4: implement marketing mix and allocate resources. Price is only a part of value. When and where the customer wants it. Television, radio, magazines, sale force and new media. Existing products and existing markets market penetration. Existing products and new markets market development.