MKT 100 Chapter Notes - Chapter 3: Competitive Intelligence, Swot Analysis, Baby Boomers

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Daryl D' Souza

Document Summary

Marketing chapter 3 analyzing the marketing environment. Successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Marketers can use an analysis of the external environment, like. Swot to categorize an opportunity as either attractive or unattractive. Greater competition may mean more choices for consumers, which influences their buying decisions. Critical to understand their firms competitors strengths, weaknesses, and their reactions. Competitive intelligence: used by firms to collect and synthesize information about their position with respect to their rivals; enables companies to anticipate changes in the marketplace rather than merely react to them. Automobile people collaborate w suppliers of sheet metal, tire manufactures, part makers, dealerships. Aspects of the external environment: culture, demographics, social trends, technological advances, economic situation, political/legal environment (cdstep) that affect companies. The shared meanings, beliefs, morals, values, and customs of a group of people.