AEM 2400 Lecture Notes - Lecture 2: Marketing Plan, Competitive Advantage, Cash Cow

• School: Cornell University
• Department: Applied Economics & Management
• Course: AEM 2400
• Professor: Debra Perosio

Document Summary

Marketing plan written document, acts as a guidebook of marketing activities for the marketing manager: living document, needs to be updated on a regular basis. Expanding, affluent population keeps manufacturers from having to think hard or with imagination. Belief that there are no competitive substitutes. Focus on decreasing production costs build it sell it mentality. Organization must think not as producing goods or services but as buying customers and doing the things that"ll make people want to do business with it: starbucks creator believed it would be relaxing atmosphere vs. dunkin. Donuts not as comfortable to sit inside, gives very different message. Analyze corporate strategy: business unit strategy developed through a bcg matrix. Assess organizational resources and opportunities by conducting: swot, product market classification. Portfolio matrix: tool for allocating resources among products or strategic business units (sbu) on basis of relative market share and market growth rate, sbu, has distinct mission and specific target market, control over its resources.