BU352 Lecture Notes - Lecture 3: Competitive Intelligence, North American Free Trade Agreement, Generation Z
BU-5 Lecture
Inner Triangle is Microeconomic Factors
Outside Hexagon is Macroeconomic Factors
Company Capabilities
• Core Competencies, like knowledge, technology, employees etc. satisfy target markets
Competition
• Identify and analyze direct/indirect competitors
• Know strengths and weaknesses
• Competitive Intelligence used to collect and synthesize information
Corporate Partners
• Firms are part of alliances – few work in isolation
• Align with suppliers, marketing intermediaries, etc.
Culture
• Different preferences, tendencies, etc. among different cultures around the world
Demographics
• Characteristics of human populations and segments used to identify consumer markets
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Document Summary
Company capabilities: core competencies, like knowledge, technology, employees etc. satisfy target markets. Identify and analyze direct/indirect competitors: know strengths and weaknesses, competitive intelligence used to collect and synthesize information. Corporate partners: firms are part of alliances few work in isolation, align with suppliers, marketing intermediaries, etc. Culture: different preferences, tendencies, etc. among different cultures around the world. Demographics: characteristics of human populations and segments used to identify consumer markets, gender, ethnicity, age, income, education, baby boomers then generation x then generation y then generation z. Income and social class: purchasing power is tied to income, many middle class families feel the decline in purchasing power in recent years. Ethnicity: eth(cid:374)i(cid:272) (cid:272)o(cid:373)positio(cid:374) i(cid:374) ca(cid:374)ada is (cid:272)ha(cid:374)gi(cid:374)g, 20% of ca(cid:374)adia(cid:374)s (cid:449)ere(cid:374)"t (cid:271)or(cid:374) i(cid:374) ca(cid:374)ada, by 2030, population growth will be mainly attributed to immigration. Technological advances: technology has impacted every aspect of marketing, new product, new forms of communication, new retail channels. Inflation a(cid:374)d i(cid:374)terest rates affe(cid:272)t fir(cid:373)"s a(cid:271)ility to (cid:373)arket goods/ser(cid:448)i(cid:272)es.
