MKT 300 Lecture Notes - Lecture 11: Brand Loyalty, Brand Equity, Market Segmentation

• School: Ryerson University
• Department: Marketing
• Course: MKT 300
• Professor: Armand Gervais

Document Summary

Reasons for this: sales below expectations, profit below expectations. Successful marketing strategy: analysis understand the current situation. 5 c(cid:859)s: customers needs, direct or indired benefits, decision making process, context demographic, economic, socio-culture, political/legal, company business model, competitive strategy, collaborators competitive strategy, competitive advantages, marking strategies, complementors, competitors. Pestle political, economic, sociological, technological, legal, environmental. Porters 5 forces model industry dynamics. Swot: strategic visions and strategy selections, select and develop marketing strategy target market, marketing strategy, set specific marketing goals using key metrics, planning, implementation and control metrics, evaluation using key metrics. Cost leadership firms tries to drive down expenses, in order to lower its prices of items sold in many market segments. Differentiation strategy requires innovation an d significant points of difference in product offerings, brand image, high quality, advanced technology, or superior service in a relatively broad array of market segments. Cost focus strategy controlling expenses and in turn lowering prices in a narrow range of market segments.