BU352 Chapter Notes - Chapter 3: Green Marketing, Visible Minority, Consumer Protection
Document Summary
Reviewing public materials, including websites, press releases, industry journals, annual etc. Analyzing a rival"s marketing tactics, distribution practices, pricing, and hiring needs. Marketers who understand and manage the changes in their marketing environments are able to adapt their product and service offerings to meet new challenges and opportunities. The first factor that affects the consumer is the firm itself. Marketers can use an analysis of the external environment, like the swot analysis to categorize an opportunity as either attractive or unattractive and, if it appears attractive, to assess it relative to the firm"s existing competencies. Greater competition means more choices for consumers which influences their buying decisions. Competitive intelligence (ci) used by firms to collect and synthesize information about their position with respect to their rivals; enables companies to anticipate changes in the marketplace rather than merely react to them. Ci enables companies to anticipate changes in the marketplace rather than merely react to them.
