(demographics help us understand the past and forecast the future) • Technology: - new products can mean new markets - not always hardware, can also be software and services • Political, legal, and regulatory influences - political players; governments (national, provincial, and municipal), lobbyist, interest groups, “grass root” organizations 1
Tuesday, October 29, 2019 - industries are di ff erentially sensitivity - adherence to legislations and regulations (ex. competition act, Canadian code of advertising standards) - Deceptive advertising: marketing that leads consumers to have incorrect beliefs or information • False Advertising: Lanham act defines it as any advertising or promotion that misrepresents the nature, characteristics, qualities or geographic origin of a good or service - Internal vs External Environment • internal: all players and factors that are involved in the company’s products This is mostly controllable • external: all players outside the company that create opportunities and pose threats. This is mostly uncontrollable - SWOT Analysis: Internal variables • strengths: competitive advantages? competencies” • weaknesses: what areas are we vulnerable? what are our resource limitations? - SWOT Analysis: External variables • opportunities: what might we do? what must we do? • threats: are our assumptions correct? are associated risks acceptable? Sensitivity analysis? 2
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- Fall '13