BU352 Chapter Notes - Chapter 3: Competitive Intelligence, Business Process, Media Consumption
Document Summary
Actions of the focal company, the company"s competition and corporate partners: the firm, and therefore consumers indirectly, is influenced by the macroenvironment, which includes: Culture, demographics, as well as social, technological, economic, and political/legal factors: one of the goals of value-based marketing is to provide greater value to consumers than competitors offer. Looks at the entire business process from a consumer"s point of view. Microenvironmental factors factors affecting consumers" microenvironment: the company (i. e. , its capabilities), its competition, and its corporate partners: company capabilities. Successful marketing firms focus their efforts on satisfying customer needs that match their core competencies. Marketers can use an analysis of the external environment, to categorize an opportunity as either attractive or unattractive and, if it appears attractive, to assess it relative to the firm"s existing competencies: competition. Greater competition may mean more choices for consumers, which influences their buying decisions.
