BU354 Chapter Notes - Chapter 3: Habitat, Swot Analysis, Competitive Intelligence
Document Summary
Competition: greater competition may mean more choices for consumers, which influences their buying decisions. Interviewing customers, suppliers, partners, or former employees: analyzing a rival"s marketing tactics, distribution practices, pricing, and hiring needs. Macro environmental factors: macro environmental factors: aspects of the external environment- culture, demographics, social trends, technological advances, economic situations, and political/legal environment- that affects companies. Country culture: country culture: easy-to-spot visible nuances that are particular to a country, such as dress, symbols, ceremonies, language, colours, and food preferences, and more subtle aspects, which are trickier to identify. Regional subcultures: the region in which people live affects the way they react to different cultural rituals, or how they refer to a particular product category. Demographics: demographics: characteristics of human populations and segments, especially those used to identify consumer markets, such as age, gender, income, race, ethnicity, and education, anything that you can easily measure about your consumer group.
