BU352 Lecture Notes - Lecture 3: Street Food, Competitive Intelligence, Gluten
SEPTEMBER 18/20
SEPTEMBER 18
Chapter 3: Analyzing Markets
Microenvironmental Factors e.gs
Apple Example:
• Core competency: satisfy customer needs
o Simplicity
• Knowledge faciltiies, patents, technology, people etc.
• Applied to target market
Famoso’s Capabilities – Case Study
• Casual dinng
• Speed – pizza made in 90 seconds
• Price
• Atmosphere
• Ingredients
• Accessibility
• Special tomatos, nearly gluten free, everything is hand made
INDIRECT COMPETITION:
• Do’t provide the custoer as the exact sae service
• High end pizza places
• Restaurants in the immediate area
• Street food kiosks are gaining market shares
• Increase demand for ethnic foods and healthier foods
o Famoso is providing Italian ethnic food with healthier options – so a in competition with these places too
HOW TO GATHER INFORMATION ABOUT COMPETITION
• Go to the restaurant and keep eye out for menu, atmosphere, prices etc.
• Use customer service to identify what they like about their competitors
• Competitive intelligence (CI)
CORPORATE PARTNERS
• Firms are a part of alliances – few work in isolation
• Align with suppliers, corporate partners etc.
Macroenvironmental Factors e.gs
Culture
• Country Culture vs. Regional Subcultures
Demographics
• Characteristics of human populations and segments used to identify consumer markets
• Tweens, baby boomers, Gen Y, Gen X, Seniors
• Generational cohorts: a group of people of the same generation
• Needs and wants what generates value
• Most important are millennials rn
o Access, not ownership
o Brands and retail – more price sensitive and more informed using technology
o Wellness
• Gender:
o Male/females roles have been shifting
o Line between genders is becoming more and more blurred
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Knowledge faciltiies, patents, technology, people etc: applied to target market. Special tomatos, nearly gluten free, everything is hand made. Indirect competition: do(cid:374)"t provide the custo(cid:373)er as the exact sa(cid:373)e service, high end pizza places, restaurants in the immediate area. Increase demand for ethnic foods and healthier foods. Famoso is providing italian ethnic food with healthier options so a in competition with these places too. How to gather information about competition: go to the restaurant and keep eye out for menu, atmosphere, prices etc, use customer service to identify what they like about their competitors. Firms are a part of alliances few work in isolation: align with suppliers, corporate partners etc. Characteristics of human populations and segments used to identify consumer markets. Line between genders is becoming more and more blurred. Technology has impacted every aspect of marketing: new products, new forms of communication, new retail markets.
