MKT 100 Lecture Notes - Lecture 3: Toothpaste, Competitive Intelligence, Consumer Protection

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Julie Kellershohn

Document Summary

Mkt 100 chapter three: analyzing the market environment. Analyzing the marketing environment also helps marketers assess their continued strengths and the value of their products and services. At the heart of the analysis, it is always the consumer. Consumers may be influenced directly by the firms microenvironment, including the immediate actions of the focal company, the company"s competition, and the corporate partners that work with the firm to make and supply products and services to consumers. Firm therefore influences such as culture and demographics as well as social, technological, economic, and political/legal factors. Goal of value based marketing : provide greater value to consumer than competitors offer. First factor the affects the consumer is the firm itself. Marketers can use an analysis of the external environment, like. Swot analysis to categorize an opportunity as either attractive or unattractive and if it appears attractive, to assess it relative to the firms existing competencies. Competition significantly affects consumers in the microenvironment.