COMMERCE 2MA3 Chapter Notes - Chapter 3: Competitive Intelligence, Visible Minority, Swot Analysis
29 Sep 2016
School
Department
Course
Professor
Document Summary
The heart of the analysis is the consumer. Consumers can be directly influenced by the firm"s microenvironment, including immediate actions of the focal company, the company"s competition and the corporate partners that work with the firm to make and supply products and services to the customer. 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 may mean more choices for consumers, which influences their biuying decisions. It is critical that marketers understand their firm"s competition, including their strengths, weaknesses, and likely reactions to the marketing activities their own firm undertakes. 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.
