BU352 Lecture Notes - Lecture 3: Competitive Intelligence, Marketing Mix, Walmart
Document Summary
Environmental analysis chapter 3: outline how the factors in a firm"s micro-environment influence its marketing strategy. Identify the factors in a firm"s macro-environment and explain how they influence the overall marketing strategy. Identify important social and natural trends that impact marketing decisions. In all marketing activities, the consumer is at the center. Any change in one of these environments likely requires an adjustment to the firm"s marketing mix. By identifying potential environmental trends, firms often can take proactive steps. Identify and analyze direct and indirect competitors: know strengths & weaknesses. Competitive intelligence (ci) used to collect and synthesize info. Strengths & weakness: present weaknesses as opportunities as this is a sensitive area. Competency traps: getting caught up in your core competencies. Example: wal-mart would have a hard time selling luxury high-end goods. Corporate partners: parties that work with the focal firm: suppliers, customers,
