Book Notes Chapter 3

Book Notes Chapter 3 - Book Notes Chapter 3 The Market...

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Book Notes Chapter 3 The Market Environment o Economic Environment o Technological Environment o Political and Legal Environment o Cultural and Social Environment Objectives Should Set Firm’s Course o Three basic objectives provide guidelines Engage in specific activities Develop an organization to carry on the business and carry on strategies Earn enough profit to survive o Mission statement- sets out the organization’s basic purpose for being o The whole firm must work towards the same objectives o Company objectives should lead to marketing objectives Company Resources may Limit Search for Opportunities o Financial strength o Producing capability and flexibility o Marketing strengths Analyzing Competitors and the Competitive Environment o Choose opportunities that avoid head-on competition Competitive environment- affects the number and types of competitors the marketing manager must face and how they behave o Competitor-free environments are rare
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Book Notes Chapter 3 - Book Notes Chapter 3 The Market...

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