MKT 100 Lecture Notes - Lecture 18: North American Free Trade Agreement, Grater, Competitive Intelligence

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Julie Kellershohn

Document Summary

Culture, political, legal, economic, technology, social, demographic (cdstep: goals of the value-based marketing is to provide grater value to consumers than competitors. We need to understand what our consumers want, what is influencing them, and the strengths and weaknesses of our product. Successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Competitive intelligence (ci) used to collect and synthesize info. Firms are part of alliances few work in isolation. Culture: shared meanings beliefs, morals, values, and customs of a group of people, regional. Education: education is related to incomes which determines spending power. Gender: the role of gender is consumer decision making has changed over the years. Ethnicity: ethnic composition of canada is changing, 1/5 canadians not born in canada, by 2030 population growth will be mainly attributed to immigration. Technology: impacted every aspect of marketing, new products, new forms of communication, new retail channels.