COMMERCE 2MA3 Chapter Notes - Chapter 3: Consumer Protection, Business Process, Competitive Intelligence
3 Nov 2016
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Document Summary
Competitive intelligence (ci): used by rms to collect and synthesize information about their positions with respect to their rivals, enables companies to anticipate changes in the marketplace rather than merely react to them. Microenvironmental factors: aspects of the external environment culture, demographics, social trends, technological advances, economic situation, and political/legal environment (cdstep) that affect companies. Culture: the shared meanings, beliefs, morals, values, and customs of a group of people. Country"s culture: easy-to-spot visible nuances that are particular to a country, such as a dress, symbols, ceremonies, language, colours, and food preferences, and more subtle aspects, which are trickier to identify. Demographics: characteristics of human populations and segments, especially those used to identify consumer markets, such as age, gender, income, race, ethnicity, and education. Generational cohort: a group of people of the same generation who typically have similar purchase behaviours because they have shared experiences and are in the same stage of life.
