BIOC 3560 Lecture Notes - Lecture 1: Marketing Mix, Market Segmentation, Swot Analysis
5 Nov 2017
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Document Summary
Situational analysis: taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization"s plans and the external factors and trends affecting it. Swot analysis: an acronym describing an organization"s appraisal of its internal strengths and. Identifying trends in the firm"s industry: analyzing the firm"s competitors, assessing the firm itself, researching the firm"s present and prospective customers. Step 3: marketing program: the how aspect of the marketing process, developing the program"s marketing mix and its budget: product, price, promotion, and place. The implementation phase: carrying out the marketing plan that emerges from the planning phase.
