ADMS 2200 Lecture Notes - Lecture 2: Chief Operating Officer, Target Market, Marketing Mix

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Marius Dobre

Document Summary

Market planning; implementing planning activities devoted to achieving marketing objectives. Strategic planning: -determines primary objectives -adopting courses of action to achieve these objectives -long term focus. Tactical planning: -implements activities specified in the strategic plan -shorter-term focus. Organization-wide objectives; fundamental strategies; long term plans; total budget. First mover strategy the company first to offer a product in a marketplace will be the long-term market winner. Second mover strategy observing the innovations of first movers and then improving on them to gain advantage in the marketplace. Li(cid:373)ited pe(cid:396)iods whe(cid:374) key (cid:396)e(cid:395)ui(cid:396)e(cid:373)e(cid:374)ts of a (cid:373)a(cid:396)ket a(cid:374)d a fi(cid:396)(cid:373)"s (cid:272)o(cid:373)pete(cid:374)(cid:272)ies (cid:271)est fit togethe(cid:396) Requires a thorough analysis of: current and projected external environmental conditions, current and projected internal company capabilities, how, whether, and when the firm can reconcile environmental conditions and company capabilities. Target market group of people toward whom the firm directs its marketing efforts and merchandise. Marketing mix variables blending of four strategy elements: product, distribution o promotion, pricing.