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MGMA01H3 (184)
Chapter 3

Chapter 3 - MGTB04! Good notes!

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Department
Management (MGM)
Course
MGMA01H3
Professor
Tarun Dewan
Semester
Winter

Description
Chapter 3Analyzing the marketing environment Market environmentconsist of actors and forces outside marketing that affect marketing managements ability and maintain successful relationships with target customersMarketers bring two special aptitudesmarketing research and marketing intelligence By studying it can adapt to their strategies to meet new marketplace challenge Microenvironmentthe actors close to the company that affect its ability to serve its customer the company suppliers marketing intermediaries customer markets competitors and publicMacroenvironmentthe larger societal force that affect the microenvironmentdemographic economic natural technological political and cultural forcesThe companys microenvironment The company All these are interrelatedmarketing manager needs to work closely with other company departments All departments have an impact on the marketing departments plan and decisionsSupplier Important to overall customer value delivery systemProvide the resources needed by the company to make goods and services Suppliers can seriously affect marketing and the availability and costs any external factor such as delays shortage etc can cost sale in short run and damage customer satisfactiontreat as partner Marketing intermediariesFirms that help the company promote sell and distribute its good to final buyerIncludes resellers physical distribution firms marketing service agencies and financial intermediaries retailer distribute channel firms that help the company to find customersPhysical distribution firmhelp company stock and move goods from the original point to destinationCompany must partner effectively with marketing intermediaries to optimize the performance of the entire system The competitorsCompany must provide greater customer value and satisfaction than its competitorsMust gain strategic advantage by position their offerings strongly against competitors offerings in the mind of consumersMust adjust plansstrategies according to their size
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