COMMERCE 2MA3 Lecture Notes - Lecture 3: Root Mean Square, Canadian Tire, Competitive Intelligence
13 Feb 2018
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Document Summary
Canadian tire - icon and top rated brand. Continuously monitor both internal and external environments. Keys to longevity and success: vision, good strategic planning and execution of market strategy. Marketers who understand and manage the environments - internal/external - can adapt their produce to meet new challenges and take advantage of opportunities. Apple took note of problems consumers faced with mp3 players when sony didn"t and produced the ipod, changing the market. Analyzing the environment also helps rms assess their continued strength and value of their products, and any weaknesses from changes in the mkting environment. By identifying potential environmental trends, rms can often take proactive steps. Company focused on higher resolution screen rather than security measures, and ended up taking reactive steps to remedy the quality of their products. Consumers can be in uenced directly by the rm"s microenvironment (actions of company, competition, corporate partners that supply)
