MKT 100 Lecture Notes - Lecture 2: Marketing Strategy, Via Rail, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

[what are they going to do, and which way they are going to go] Step 1: defining the mission and or vision statement. Culture demographics social technology economic and political forces. Step 3: identifying and evaluating opportunities using stp. Single people and couples wanting to have a bit of fun. Business customer s and families who prefer a luxurious side. The center is always going to be target market and positioning. *when your target market changes, you can change price strategy or place strategy, when you change your target market to luxury, then you can target high-end, luxury stores and you don"t have to worry about price as much. Step 5: evaluate performance by using marketing metrics. A metric is a measuring system that quantifies a trend, dynamic, or characteristic. Many factors contribute to a firm"s overall performance. Compare a firm"s performance over time or to competing firms. View the firm"s products or services as a portfolio.