Management and Organizational Studies 2320A/B Lecture Notes - Lecture 2: Liquid Oxygen, Pro Forma, Corporate Social Responsibility

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Alex Mc Dougall

Document Summary

Below are notes combined from textbook, ch1 summary, and the class slides following this content. Lo2 describe the elements of a marketing plan. Lo3 analyze a marketing situation using a swot analysis. Lo4 explain how a firm chooses what consumer group(s) to pursue with its marketing efforts. Lo5 outline the implementation of the marketing mix as a means to increase customer value. Firms with strong relationships may gain exclusive rights to: "the three most important things in retailing are location, location, location. : a competitive advantage based on location is sustainable because its not easily duplicated. Note: its best to focus on all of these strategies, because one is often not enough. A marketing plan is a kind of blueprint for how an organization will (hopefully) carry out effective marketing programs that achieve strategic objectives & provide customers with value & satisfaction.