BU352 Lecture Notes - False Advertising, Consumer Protection, Marketing Mix
Document Summary
By meeting customer needs and monitoring the environment in which a firm operates, a. Chapter 4: analyzing the marketing environment marketer can identify potential opportunities. To successfully market there are factors: microenvironment: firm itself, satisfying customer needs that match their core competencies, external environment: swot, opportunities, relationships with corporate partners. Parties working along with the focal firm (suppliers, deliveries etc) Just in time inventory system (jit): firm gets inventory just in time for it to be used: understanding the customers- centre of marketing- providing greater value. How macroenvironment influences consumers (baby boomers and pharmaceutical companies making more lifestyle drugs, balding, weight: macroenvironmental factors in the external environment. Aspects of the external environment that affect a company"s business (cd step: competitors, demographics, social and cultural issues, technological advances, economic situation, political/regulatory environment. What are competitors doing, how will they behave, how will they react, how can we beat them.
