BU352 Chapter Notes - Chapter 3: Speeders, Computer Data Storage, Stock Market

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Analyzing the marketing environment helps marketers assess their continued strengths and value of their g/s, and any weaknesses resulting from changes in marketing environment. Heart is consumer influenced directly by firm"s microenvironment, including immediate actions of focal company, company"s competition, and corporate partners that work with firm to make and supply g/s to customers. Firm and customers are also influenced by macro environment culture and demographics, social, technological, economic, and political/legal factors. Goal of value-based marketing: provide greater value to consumers than competitors offer. Look in consumer"s point of view consumers" needs and wants and ability to purchase are affected by host of factors that change and evolve over time. Firms keep track of competitors" activities and communicate with partners. Monitor macroenvironment to determine how factors influence consumers and how to respond. Successful marketing firms focus efforts on satisfying customer needs that match their core competencies.

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