MKT 100 Chapter Notes - Chapter 3: North American Free Trade Agreement, Competitive Intelligence, Millennials

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Asif Salam

Document Summary

Core competency existing knowledge/facilities/patents applied to new mkts/products. Competitive intelligence used to collect and synthesize info. Reviewing public materials (websites, press, industry journals, annual reports etc) Analyzing rival mkting tactics, distribution practices, pricing, hiring needs. Just in time (jit) delivery systems from factory retailer. Shared meanings, beliefs, morals, values, customs of a group of people. Characteristics of human pop/segments especially those used to identify consumer mkts. Group pf ppl of the same generation similar purchase behaviours. Food, drinks, electronics, games, music, cell phones, clothing. 13-32, biggest cohort since baby boom, echo boom , 36-47, baby boomer parents, grew up in home where both parents worked. Carry higher debt loads, travel more, move far from parents, live longer with parents. Difficult to market to, know how to making shopping decisions. Obsession w/ maintaining youth, pampering w/ salon services. Need special attention, take time browsing before purchase. Travel, second homes, luxury cars, electronics, investments, home furnishings, clothing.