Management and Organizational Studies 2320A/B Chapter Notes - Chapter 3: Netflix, Millennials, Visible Minority

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

Companies analyze their marketing environment using a framework. At the heart of the analysis is the consumer. Consumers may be influenced directly by the firm"s microenvironment. The firm, and therefore consumers indirectly, is influenced by the macroenvironment. Microenvironment (directly influences consumers: company, competition, corporate partners. Company capabilities: successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Reviewing public materials (websites, press releases, industry journals, annual reports, subscription databases, permit applications, patent applications, trade shows) Analyzing a rival"s marketing tactic, distribution practices, pricing, and hiring needs. Corporate partners: few firms operate in isolation, for example, automobile manufacturers collaborate with suppliers of sheet metal, tire manufacturers, component part makers, unions, transport companies, and dealerships to produce and market their automobiles successfully. Generation y / millennials generational cohort of people born between. 1972 and 1992; the biggest cohort since the original postwar baby boom.