BUAD 307 Chapter Notes - Chapter 5: Green Marketing, Environmental Health, Baby Boomers
3 Oct 2016
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Outline how customers, the company, competitors, and corporate partners affect marketing strategy. Company"s capabilities: successful marketing firms focus on satisfying customer needs that match their core competencies, use swot analysis to categorize any opportunities as attractive or unattractive to the consumer. Competitors: critical that marketers understand their firm"s competitors. Strengths, weakness, and likely reactions to marketing activities predict competitor decisions. Corporate partners: parties that work with the focal firm, satisfy customer needs by working with other businesses through collaboration. Explain why marketers consider their macro-environment when they make marketing decisions. Demographics indicate the characteristics of human populations and segments, especially those used to identify consumer markets: provides a snapchat of the typical consumer in a specific target market. Describe the differences among the various generational cohorts. 2001-20014 born into a world that already was full of electronic gadgets and digital technologies. Millennials (1977-2000) biggest cohort and varies the most in age.
