BU352 Chapter 3: Chapter 3
Document Summary
Companies analyze their marketing environment using a framework; the consumer is at the heart of the analysis. The firm and consumers are indirectly influenced by the macroenvironment. One of the goals of value-based marketing is to provide greater value to consumers than competitors offer. Marketing firm needs to look at the entire business process from a consumer"s pov. 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 such as swot analysis to categorize an opportunity as either attractive or unattractive. Greater competition = more choices for consumers which influences their buying decisions. It is critical that marketers understand their firm"s competitors including their strengths, weaknesses, and likely reactions to the marketing activities their own firm undertakes. Firms use competitive intelligence (ci) to collect and synthesize information about their position with respect to their rivals.
