BU352 Chapter Notes - Chapter 1: Consumer Protection, Environmentally Friendly, Visible Minority
Document Summary
Marketers who understand and manage the changes in their marketing environments are able to adapt their product and service offerings to meet new challenges and opportunities. Many marketers get their ideas for new products/services from monitoring the environment. Analyzing the environment helps marketers assess their continued strengths and the value of their products/services and any weaknesses resulting from changes in the marketing environment. Analysis is done using a framework: consumer at the centre, may be influenced by the firm"s microenvironment, competition and corporate partners. Indirectly, consumers are influenced by the macro environment. Interview customers/suppliers/partners/former employees: analyze competitors" marketing tactics, distribution practices, pricing, hiring, regarded as a necessity in today"s world; but question arises as to where to draw the ethical + legal line, e. g. : apple vs. samsung, air canada vs. westjet. Corporate partners: few firms operate in isolation; parties that work with the local firm are its corporate partners.
