MKT 100 Chapter 3: MKT-Chapter 3

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Marla Spergel

Document Summary

The factors affecting consumers" microenvironment: the company (ie. its capabilities), its competition, and its corporate partnerts. Company capability successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Competition: greater competition may mean more choices for consumers, which influences their buying decisions, competitive intelligence-to collect and synthesize information about their position with respect to their rivals. Corporate partners: few firms operate in isolation. Going green can prompt companies to work more closely with their partners to innovate. Operate in the external environment, namely, the culture, demographics, social/natural trends, technological advances, economic situation, and political/legal environment, or. Culture: the shared meanings, beliefs, morals, values, and customs of a group of people, based down from generation to generation and learned over time. Country culture: easy to spot visible nuances that are particular to a country, such as dress, symbols, ceremony, language, and more subtle aspects, which are trickier to identify.