MKT 100 Chapter Notes - Chapter 3: Swot Analysis, Business Process, Baby Boomers
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MKT 100 Full Course Notes
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Firms should look at entire business process from consumers point of view. Successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Can use swot analysis to categorize opportunity as attractive or unattractive. 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. Recognize what competitor is doing and attempt to halt harmful actions. Automobile mfg. collaborates with sheet metal, tire suppliers, etc. Aspects of the external environment - culture, demographics, social trends, technological advances, economic situation, and political/legal environment (cdstep)- that affect companies. The shared meanings, beliefs, morals, values, and customs of a group of people. Easy-to-spot visible nuances that are particular to a country, such as dree, symbols, ceremonies, language, colors, and food preferences, and more subtle aspects which are trickier to identify.
