ADM 2320 Lecture Notes - Lecture 4: Baby Boomers, Competitive Intelligence
20 Sep 2017
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Document Summary
Marketers who understand and manage the changes in their marketing environments are able to adapt their product or service offering to meet new challenges and take advantage. Analysing the environment helps marketers understand the market. In this analysis there are two main big things. This slide illustrates the factors affecting consumers" microenvironment. The first thing that affect the consumers is the company"s capabilities. The core competency is to satisfy the customers" needs. Knowledge, facilities, patents, technology, people, etc. are applied to target markets, products, etc. Competitive intelligence (ci) used to collect and synthesize information. In order to be successful, firms cannot operate in isolation. Firms must work together with many partners to create a seamless system that delivers good and services to customers. This is broadly defined as shared meanings, beliefs, morals, values, and customs of a group of people. Culture can be transmitted by words, literature, institutions, as it is passed down from generation to generation.
