Mkt Ch.3

  1. external market environment
    customers, the company and competitors
  2. direct market environment
    • economic
    • technological
    • political and legal
    • cultural and social environments...
  3. 3 objective guidelines:
    • engage in activities that will result in a socially and economically useful function
    • develop an organization to carry on the business and strategies
    • earn enough profit to survive
  4. mission statement
    sets out the organizations basic purpose for being.
  5. competitive environment
    the number and types of competitors that the marketing manager must face and how they may behave.
  6. competitor analysis
    an organized approach for evaluating the strengths and weaknesses of current or potential competitors' marketing strategies.
  7. economic environment
    • change rapidly
    • are affected by interest and inflation rates
    • includes the global economy
  8. technological environment
    • affects opportunities
    • makes international transfers faster and easier
    • affected by the internet!
    • changes rapidly
  9. political environment
    • Nationalism (an emphasis on the nations interest before everything else) can be limiting on international markets
    • regional grouping
  10. portfolio management
    which treats products as stock investments to be sold.
  11. strategic business unit
    an organizational unit that focuses on some product-markets and is treated as a separate profit center.
Card Set
Mkt Ch.3
Mkt. Chapter 3 part 1