MKT 100 Lecture Notes - Lecture 2: Pizza Hut, Competitive Intelligence, Nutrition Facts Label

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

Document Summary

Marketing environment includes the actors and forces outside marketing that affect marketing management"s ability to build and maintain successful relationships with target customers. Micro specifically directly related to company controllable; competitors, itself, suppliers, market, intermediates, customers. Macro more general and influences multiple companies non-controllable; population and demographic, economic, legal & political, tech. Core competency using existing knowledge, facilities, patents, etc. applying decisions surrounding the new market, new products, etc. Competitors identify and analyze direct and indirect competitors: Indirect companies in the same market, selling different versions of the same product companies in similar markets, but are selling alternatives to the product. Customers must know the strengths & weaknesses of each competitor in order to decide. Producers must be aware of the strengths & weaknesses of their competitors to decide how to differentiate their product from the rest - accentuate strengths, and fix weaknesses. Competitive intelligence (ci) used to collect and synthesize info.