MKT 100 Study Guide - Midterm Guide: American Eagle Outfitters, Baby Boomers, Herfindahl Index

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Helene Moore

Document Summary

The marketing environment includes the factors and forces outside marketing that affect marketing management"s ability to build and maintain successful relationships with target customers. Low rating of food and service quality. Image being unclassy, uncultured and uncool to younger target markets. Satisfy consumer needs and match their core competency existing knowledge, facilities, patents etc. Applied to new markets and new products. Greater competition means more choices for customers. How competitive is the industry: top 3 or 4 market share. Add up the market share of the top 3 or 4 firms in the industry. If top 3 or 4 share is : < 67% less concentrated and more competitive industry: herfindahl index. Square the market share of all competitors industry and add up the squares. < 0. 18 less concentrated and more competitive industry. Company sales as a % of total industry sales. % of customer who name your brand when asked to name first brand comes to mind.