MKT 100 Lecture Notes - Lecture 2: Marketing Mix, Swot Analysis, North American Free Trade Agreement

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Paul Gillespie

Document Summary

Mkt 100 w2015 - l2 - market implementation and strategy. Corporate planning; scope is the entire firm; duration is long term, five years minimum; and strategic focus is to define the mission, goals and establish a portfolio of the company. Strategic business planning (applies to firms with more than one line of business). Scope is a single sbu (strategic business unit) within the firm; duration is medium to long term, three to five years minimum; and strategic focus is to set goals and establish market portfolio for the business unit. Functional planning; scope is a single product, brand or market; duration is short to medium, one to three years minimum; and strategic focus is developing marketing plans for those respective scopes. Planning phase; step one: business mission and objectives; step two: situational analysis and swot (strengths, weakness, opportunities and threats) analysis.