Management and Organizational Studies 2320A/B Lecture Notes - Lecture 3: Mp3 Player, Baby Boomers, Competitive Intelligence

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

Its capabilities), its competition, and its corporate partners. (1)company capabilities. The first factor that affects the consumer is the firm itself. Successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Apples had leveraged its core competency in the digital audio player market with its ipod, iphone and ipad. (2)competition. Greater competition may mean more choices for consumers, which influences their buying decisions. Firms must identify and analyze direct and indirect competitors. Firms use competitive intelligence (ci) to collect and synthesize information about their position with respect to their rivals. Allows companies to anticipate changes in the marketplace rather than react to them. Strategies to collect ci can range from simply sending a retail employee to a competitive store to check merchandise, prices, and foot traffic or more involved methods such as reviewing public materials, press releases, patent applications or reviewing customers. Samsung branding the galaxy as the anti-iphone 5 (3)corporate partners.