BU354 Chapter Notes - Chapter 4: Rigging, Consumer Protection, Baby Boomers
Document Summary
Scenario planning: assess strengths and weaknesses, assess opportunities and threats, identify alternative scenarios, apply marketing mix to the scenarios, assess profitability of each scenario. Macroenvironmental factors aspects of the external environment that affect a company"s business, such as competitors, demographics, social/cultural trends, technological advancements, economic conditions, and political/regulatory factors. A thorough understanding of these external factors can be critical to a company"s success. Macroenvironmental factors (cdstep: competitors, demographics, social/cultural, technological, economic, political/legal, competitors. Competitive intelligence (ci) used by firms to collect and synthesize information about their position with respect to their rivals; enables companies to anticipate market developments rather than merely react to them. Demographics countable characteristics of human populations and segments, especially those used to identify consumer markets such as age, gender, income and education. Demographics provide an easily understood snapshot of the typical consumer in a specific target market.
