MKTG 3650 8th Edition Lecture 8 Outline of Last Lecture I. RelationshipsII. Logical Strategies or marketing solutionsIII. RiskOutline of Current Lecture IV. Scanning the marketing environmentCurrent LectureWhy firms should engage in environmental scanning?- Because that’s where the money is and anticipation and opportunities and threats can be discovered.- Most relevant dimensions if any firm’s environment?o Supplierso Retailerso Customer trendso Societalo Economic conditionso Technological trendso Competitive conditions and trendso Regulations and laws that confront and constrain the firm- Knowledge is the foundation of competitive advantage and economic growth and the primary source of earned wealth- Trends that exist outside the firm that would exist even if the firm didn’t (threats and opportunities)- Glacierso Similar to the relationship between marketing and it’s environmento Glaciers are shaped by climates around themo Impacts the surrounding environment as wello Marketing is the same wayo Marketers impact and are impacted by their environment These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a
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