MCS 1000 Lecture Notes - Lecture 2: Marketing Mix, Swot Analysis, Liquid Oxygen

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: bonafacio

Document Summary

Mcs 1000: chapter 2 developing successful marketing strategies. An organization is a legal entity of people who share a common mission. Profit- the money left after a business firm"s total expenses are subtracted for its total revenue; the reward for the risk it undertakes in marketing its offerings. Strategy- an organizations long-term course of action designed to deliver a unique customer experience while achieving its goals. Corporate level- level at which top management directs overall strategy for the entire organization. Top management can be seen as board of directors and senior management officers. Marketing accountability- the responsibility for the systematic management of marketing resources and processes to achieve measurable gains in return on marketing investment and increased marketing quality and increasing the value of corporation. Strategic business unit level- a strategic business unit is a subsidiary division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.