BU352 Lecture Notes - Lecture 2: Operational Excellence, Marketing Strategy, Swot Analysis
Document Summary
Chapter 2 developing marketing strategies and a marketing plan. Related marketing mix the four ps: 3. ) Bases upon which the firm plans to build a sustainable competitive advantage. Sustainable competitive advantage is an advantage over the competition that is not easily copied and thus can be maintained over a long period of time. Multiple sources of advantage: sometimes a single strategy is not enough to build a competitive sustainable advantage, other approaches could be, customer value, customer service, customer relations, great prices. Is a written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four ps. Business units and managers: performance objectives and metrics - compare sales, profits overtime, use financial performance metrics - revenue, sales, profits, use social responsibility performance metrics impacts to environment. Dogs low growth and low market share, you would want to exit the market.
