Class Notes (1,100,000)
CA (620,000)
Ryerson (30,000)
ACC 406 (200)
Lecture 5

ACC 406 Lecture Notes - Lecture 5: Green Marketing, Swot Analysis, Millennials


Department
Accounting
Course Code
ACC 406
Professor
Alison Beavis
Lecture
5

This preview shows half of the first page. to view the full 3 pages of the document.
Chapter 3- Analyzing the Markeng Environment
Marketers who understand and manage the changes in their markeng environments are able to
adapt their product and services to meet new challenges and opportunies (ex. Canadian Tire)
Marketers get new ideas by monitoring and studying the market environment
Companies analyze their markeng environment using a framework
Consumers may be in%uenced directly by the &rm’s microenvironment (immediate acons of
the company) and indirectly by the macroenviornment
Value Based Markeng- providing greater value to consumers than competors o*er
Firm’s monitor their microenvironment to determine how such factors in%uence
consumers and how they should respond to them
Microenvironmental Factors
1) Company Capabilies
Successful markeng &rms focus on sasfying customers’ needs that match their core
competencies (ex. Apple)
Marketers use SWOT analysis’ to asses opportunies relave to the &rm’s exisng
competencies
2) Compeon
A*ects consumers in the microenvironment
Greater compeon means more choices for consumers, which in%uences their
buying decisions
Compeve intelligence (CI)- to collect and synthesize informaon about their posion with
respects to their rivals
CI ancipates changes in the marketplace rather than react to them
Gathering CI consists of: 1) reviewing public materials, 2) interviewing customers,
suppliers, partners, 3) analyzing a rival’s markeng taccs, pricing etc.
You're Reading a Preview

Unlock to view full version