MKT 100 Lecture 4: Chapter 3 Notes

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Laila Rohani

Document Summary

I(cid:374)cludes the actors a(cid:374)d forces outside (cid:373)arketi(cid:374)g that affect (cid:373)arketi(cid:374)g (cid:373)a(cid:374)age(cid:373)e(cid:374)t"s ability to build and maintain successful relationships with target customers. 2 types of marketing environment: macroenvironment, microenvironment. Identify and analyze direct and indirect competitors: knows strengths and weaknesses, competitive intelligence (ci) used to collect and synthesize info. Art of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, individuals, concepts, information, ideas or data needed to support executives and managers in making strategic decisions for an organization. Corporate partners: firms are part of alliances, align with competitors, suppliers, etc, just in time delivery systems (jit, from factory to retailer. Company: focus their efforts on satisfying customer needs that match their core competencies, existing knowledge, facilities, patents applied to new markets, new products. Demographics: provides an easily understood snapshot of the typical consumer in a specific target market, generational cohorts. Gen y (millennials 13 32 years old) (21% of canadian population)