MKT 100 Chapter 3: Analyzing the Marketing Environment

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: George Baranyai

Document Summary

The consumer is always at the heart of the analysis. The firm and directly, the consumers are influenced by the microenvironment. Influences such as culture and demographics, social, technological, economic and political/legal factors. Marketers can use swot to catergorize an opportunity as either attractive or unattractive and if attractive, to asses it relative to the firm"s existing competencies. Greater competition may mean more choices for consumers, influencing their buying decisions. Critical that marketers understand their firm"s competitors, including their strengths and weaknesses. Competitive intelligence (ci): used 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. Marketers have to have products/services that are identifiable by and relevant to a certain group of people. Our various cultures influences the w5h we buy. Marketers must take into account the culture of the country and that of a region within a country.