MKT 100 Lecture Notes - Lecture 2: North American Free Trade Agreement, Core Competency, Competitive Intelligence

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Steven Chuang

Document Summary

These are proficiencies things that a company does well. Core competence the one or two things it does best. Distinctive competence the things it does better than its competitors. Knowledge, facilities, patents, technology and people which is all applied to selling their products. Competitive intelligence (ci) used to collect and synthesize info. Companies such as jcpenny and kmart without understanding their macro and micro- environment. Macro environment is made up of: economics, technology, culture, demographics, political/legal, social/natural. Micro environment is made up of: corporate partners, competition, company. Companies are affected by their suppliers and distribution channels. About different things that are shared by people such as music, language, literature. Difference between country culture vs. regional subcultures. Challenge for a marketer is to have a product that is specifically appealed for certain cultures. Characteristics of human populations and segments used to identify consumer markets. Business use census demographic information so they can be more informed about marketing decisions which they make.