MKT 100 Lecture Notes - Lecture 2: Competitive Advantage, Nordstrom, Marketing Mix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Julie Kellershohn

Document Summary

A related marketing mix the four ps. The bases upon which the rm plans to build a sustainable competitive advantage. This should give you a sustainable competitive advantage. First hospital to try new things that are later found around the country. Strategic location or being everywhere it could be both. Really trying to di erentiate on all four aspects of getting an advantage. Step 1 de ne the business mission and objectives. Step 2 conduct a situation analysis using swot. How do we get our current customers to buy more. Existing market o er, but a new market segment not currently being served. Taking our current product, and develop it to serve another part of the market. O er a new product to our current customers.