intensify of competition in many markets, due to
- growth of global competition, as barriers to trade have been lowered and global communication improved
- role of the multinational conglomerate has expanded; this now disregards geographical and other boundaries and seeks Profit opportunities on a global scale
- prevailing legislation and political ideologies have served to foster entrepreneurial and "free market" values
- continual technological Innovation, giving rise to new sorces of competition for established products and markets
successful Marketing in a competitive economy is about competitive success and positioning
key to achieving organizational goals lies in determining the needs and wants of the target markets and delivering satisfaction in a more effective and efficient way than competitors

Marketing planning: structured process of researching and analysing Marketing situations, developing and documenting Marketing objectives, strategies and programmes, and implementing, evaluating and Controlling activities to achieve the obejctives; adaptable, ongoing process
- outcome: Marketing plan; a document, that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its Marketing objectives

	Created by Romi J over 6 years ago

Slide Set on EURO FH - Marketing MKTG1, created by Romi J on 23/08/2017.