MKT 100 Lecture Notes - Lecture 36: Competitive Intelligence, Swot Analysis, Root Mean Square

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

Imagine the needs and wants of these consumers, and the answer a new array of lifestyle drugs, including those that improve intelligence, with the fi rst step being memory enhancers 3 may appear obvious. Exhibit 4. 2 illustrates the factors affecting the immediate environment: the company"s capabilities, competitors and competitive intelligence, and the company"s corporate partners. In the immediate environment, the fi rst factor that affects the consumer is the fi rm itself. Successful marketing fi rms focus their efforts on satisfying customer needs that match their core competencies. Competition also signifi cantly affects consumers in the immediate environment. It is critical that marketers understand their fi rm"s competitors, including their strengths, weaknesses, and likely reactions to marketing activities their own fi rm undertakes. Firms use competitive intelligence (ci) to collect and synthesize information about their position with respect to their rivals. In this way, ci enables companies to anticipate market developments rather than merely react to them. 4.