BU352 Lecture Notes - Lecture 1: Predatory Pricing, Planned Obsolescence, Habitat
Document Summary
Consumers in the middle, but how we go about reaching them is based on internal and external environment. Internal = direct influence (company, corporate partners, competition) (3cs) Gathering info is not a checklist on how much you can find when putting together a marketing strategy, but you collect as much info as you can find and then determine which information is relevant. Answer the so what question (why is it important?) External = culture, demographics, social/natural, technology, economic, political/legal (cdstep) Reason we look internally is based on the fact that we want to know that we are positioned correctly in the target market. Focus efforts on things that are important to consumers. Have to look at both indirect and direct competitors. Indirect = alternatives/substitutes (famoso = movies or eating at home) Social/natural trends = greener consumers, privacy concerns, time-poor society, marketing to children, health/wellness concerns. Famoso won"t worry about if greece went bankrupt.
