MKT 320F Chapter Notes - Chapter 3: North American Free Trade Agreement, Monopolistic Competition, Competitor Analysis
Document Summary
Chapter 3: evaluating opportunities in the changing marketing environment. -the direct marketing environment includes customers, the company and its resources, and competitors. -the external marketing environment is broader and includes four major areas: economic environment technological environment political and legal environment cultural and social environment. -these are uncontrollable variables that managers cannot alter. -company objectives should be made within resource limits. -should shape the direction and operation of the whole business. 1: develop an organization to carry on the business and implement its strategies. -should earn some profit: necessary for survival; must think short and long-term. -a mission statement helps set the course: firm should develop its own objectives mission statement: sets out the organization"s basic purpose of being. -the whole firm must work toward the same objectives: and these objectives must be compatible and reasonable. -every firm has some resources hopefully some unique ones that set it apart and create competitive advantage.
