ADMS 2200 Lecture Notes - Lecture 2: Tim Hortons, Swot Analysis, Marketing Mix

• School: York University
• Department: Administrative Studies
• Course: ADMS 2200
• Professor: Richard Patterson

Document Summary

Marketing planning: the basis for strategy and tactics. Marketing planning-implementing planning activities devoted to achieving marketing objectives. Adopting courses of action to achieve these objectives. Organization-wide objectives; fundamental strategies; long term plans; total budget. Quarterly & semi annual plans; divisional budgets; divisional policies & procedures. Daily & weekly plans; unit budgets; departmental rules & procedures. Mission-essential purpose that differentiates one company from another. ^add 15 new outlets within the next year. Objectives-guide the development of marketing objectives and plans. Assessing organizational resources & evaluating environmental risks & opportunities. Marketing strategy-selecting and satisfying target consumers through the marketing mix elements. Strengths help planners: set objectives, develop plans, take advantage of marketing opportunities. ^monitor performance to ensure that objectives are achieved. First mover strategy-the company first to offer a product in a marketplace will be the long-term market winner. Second mover strategy-observing the innovations of first movers & then improving on them to gain advantage in the marketplace.