MKT 100 Chapter Notes - Chapter 3: Millennials, Marketing, Root Mean Square

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Martin Pyle

Document Summary

Chapter 3 - analyzing the marketing environment value-based marketing - goal is to provide greater value to consumers than competitors offer. Marketing rm looks at the entire business process from a consumer"s point of view. Consumers needs and wants, as well as they ability to purchase, are affected by a host of factors that change and evolve over time. Rms keep track of their competitors activities and communicate with their corporate partners. Satisfying customer needs and match their core competencies. Greater competition means more choices for consumers, which in uences their buying decisions. Critical to understand rms competitors and their weaknesses and strengths. Rms use competitive intelligence (ci) competitive intelligence (ci): used by rms to collect and synthesize information about they position with respect to their rivals; enable companies to anticipate changes in the marketplace rather than merely react to them.