MKT 100 Chapter Notes - Chapter 3: Baby Boomers, Food Marketing, Swot Analysis

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Paul Gillespie

Document Summary

Marketers who understand and mange changes in their marketing environments are able to adapt their g+s offerings to meet new challenges & opportunities. Companies analyze their marketing environment starting w. a framework. At the heart of the analysis is always the consumer who may be influenced directly by the firm"s microenvironment (company, competition & corporate partners). In turn, the firm & consumers indirectly are influenced by the macroenvironment (culture, demographics, social, technological, economic & political/legal factors) Company capabilities: successful marketing firms focus their efforts on satisfying customers" needs that match their competencies. Apple"s strength is in design, manufacture, distribution & promotion of mac computers, recognized for their sleek but functional devices. Marketers can use swot analysis on their external environment to categorize an opportunity as either attractive/unattractive & assess it relative to firm"s competencies. Competition: greater competition may mean more choices for consumers which influence their buying decisions.