MKT 100 Lecture Notes - Lecture 2: Marketing Mix, Swot Analysis, Taco Bell

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

Step 1: define the business mission and objectives: focus on limited number of goals, stress major policies and values, define major competitive spheres, take a long-term view, short, memorable, meaningful. Impact on environment, ability to diversify work force, energy conservation initiative, human rights etc. That is, stars often require a heavy resource investment in things such as promotions and new production facilities to fuel their rapid growth: cash cows: in low-growth markets but are high market share products. Although they may generate enough resources to sustain themselves, dogs are not destined for stardom and should be phased out unless they are needed to complement or boost the sales of another product or for competitive purposes. Mkt 100 chapter 2: developing marketing strategies and a marketing plan. Growth strategies (ansoff product market matrix: depending on product or market, market pe(cid:374)etratio(cid:374): e(cid:454)isti(cid:374)g (cid:373)arket a(cid:374)d produ(cid:272)t a(cid:374)d fo(cid:272)uses o(cid:374) the fir(cid:373)"s efforts o(cid:374) e(cid:454)isti(cid:374)g (cid:272)usto(cid:373)ers (cid:894)e(cid:454).