COMMERCE 2MA3 Chapter Notes - Chapter 3: Habitat, Millennials, Digital Electronics
26 Oct 2016
School
Department
Course
Professor
Document Summary
Marketers who understand and manage the changes in their marketing environments are able to adapt their product and services offerings to meet new challenges and opportunities. Many marketers get their ideas for new products or services from monitoring and studying the marketing environment. Analyzing the marketing environment also helps marketers assess their continued strengths and the value of their products and services, and any weaknesses resulting from changes in the marketing environment. Companies analyze their marketing environment using a framework. At the heart of the analysis is the consumer. Consumers may be influenced directly by the firm"s microenvironment, including the 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 consumers. The firm, and therefore consumers indirectly, is influenced by the macro environment, which includes influences such as culture and demographics, as well as social, technological, economic, and political/legal factors.
