Management and Organizational Studies 2320A/B Chapter Notes - Chapter 3: Aisle, Upper Class, Media Consumption

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Colin Mc Dougall

Document Summary

Companies analyze the marketing environment based on a framework. One of the goals of value based marketing is to provide greater value to consumers than competitors. This requires the marketer to understand the consumers point of view. Consumers needs and wants as well as their ability to purchase are affected by many changing factors. In the firms microenvironment the first factor affecting the consumer is the firm itself. Competition: greater competition = more choices for the consumer, which influences their buying decisions, competitive intelligence (ci): to collect and synthesize information about their position with respect to their rivals. This enables companies to anticipate changes in the market place rather than merely react to them. Interviewing customers, suppliers, partners or former employees: analyzing a rivals marketing tactics, distribution practices, pricing and hiring needs, although ci is regarded as a necessary function, certain uses cross ethical and legal bounds.