MKT 100 Lecture 2: MKT 100 – Lecture 2

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

Document Summary

Marketing strategy identifies: a firm"s target market(s, a related marketing mix the four p"s and. Sustainable competitive advantage something the firm can persistently do better than its competitors, that is not easily copied and this can be maintained over a long period of time. The strategic marketing planning process (or just marketing plan) Portfolio analysis boston consulting group matrix. Examples: question marks: quora, stars: instagram, cash cow: facebook, dogs: myspace. Microsoft office suite of products has high market share, but low growth in the market. Selfie lighting by lumee, low market share but high growth rate. Example: netflix (get customer the merchandise they want, when they want: product excellence. Achieving high perceived value and effective branding and position. Of importance in retailing: location, location, location. Microenvironment: technology, social/natural, demographics, culture, political/legal, economic. Knowledge, facilities, patents, technology, people etc: applied to. Example: zara, newness & scarcity, efficient operations, fast fashion. Identify and analyze direct and indirect competitors.