BUS 360 Lecture Notes - Lecture 2: Southwest Airlines, Operational Excellence, Competitive Advantage
6 May 2020
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Chapter 2 - developing marketing strategies and a marketing plan. Efficient operations excellent supply chain management. Products with high perceived value and effective branding and positioning. Competitive advantage based on location is not easily duplicated. Makes sense for some businesses (starbucks, fast food) but not an advantage for others. A single strategy (low prices, excellent service) is usually not enough to build a sustainable. Ex: southwest airlines provides good service at a good value (on-time flights that are. Multiple sources of advantage competitive advantage reasonably priced) The marketing plan: business mission & objectives, situation analysis, swot. Pages to read for exam one: evaluate performance using marketing metrics. 4 - ex 1. 1(5), ex 1. 3(7) - end pg. 24 - ex 2. 1(25), 2. 2(29), 2. 3*(32) - end pg. Step 3: identifying and evaluating opportunities using stp. Step 4: implement marketing mix and allocate resources. A metric is a measuring system that quantifies a trend, dynamic, or characteristic.
