COMMERCE 2MA3 Chapter 3: Chapter 3
25 May 2016
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Document Summary
Chapter 3 - the marketing environment, ethics, and social responsibility. Environmental scanning collecting external marketing environment information to identify and interpret potential trends. Trends may represent significant opportunities or threats to the company. Environmental management attainment of organizational objectives by predicting and influencing the competitive, political-legal, economic, technological, and social-cultural environments. Strategic alliance partnership in which two or more companies combine resources and capital to create competitive advantages in a new market: ex/ when expanding into a new country, make alliances with local companies. Interactive process that occurs in the marketplace among: marketers of directly competitive products, marketers of products that can be substituted for one another, marketers competing for the consumer"s purchasing power. Marketing decisions by individual firms influence: consumer responses in the marketplace, marketing strategies of competitors. Few organizations have monopoly positions: monopoly market structure in which a single seller dominates trade in a good or service for which buyers can find no close substitutes.
