MKT 100 Chapter Notes - Chapter 3: Swot Analysis, Competitive Intelligence, Canadian Dollar
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MKT 100 Full Course Notes
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Companies analyze their marketing environment using a framework. At the heart of the analysis is, as always, the consumer. Consumers may be influenced directly by the firm"s 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. The firm, and therefore consumers indirectly, is influenced by the macroenvironment, which includes influences such as culture and demographics, as well as social, technological, economic, and political/ legal factors. In the firm"s microenvironment, 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. Marketers can use an analysis of the external environment, like the swot analysis described in chapter. 2, to categorize an opportunity as either attractive or unattractive and, if it appears attractive, to assess it relative to the firm"s existing competencies.
