MGT 300 Lecture 3: Chapter 3 notes
28 Sep 2017
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Document Summary
Summarize why it is important to examine and respond to the marketing environment. Explain how competitive factors affect an organization"s ability to compete. Articulate how economic factors influence a customer"s ability and willingness to buy products. Identify the types of political forces in the environment. Explain how laws, government regulations, and self-regulatory agencies affect marketing activities. Describe how new technology impacts marketing and society. Outline the sociocultural issues marketers must deal with as they make decisions. Examine how social responsibility and ethics can be incorporated into strategic planning. Monitoring the environment is crucial to achieve long-term goals of the organization. Changes in the marketing environment are monitored by. Environmental scanning - collecting information about forces in the marketing environment which involves. Secondary sources such as business, trade, government, and internet sources. Marketing research; internet enables companies to gather information quickly. Environmental analysis - assessing and interpreting information gathered through environmental scanning.
