Consumers & Markets
Through this project sequence:
Areas of Coverage
Classify external environmental factors that may limit or enable the firm's future decision making, specifically analyzing competition, changes in demand determinants and supply conditions, complementary and substitute good markets, national macroeconomic conditions and policy responses, and in the upstream/downstream value chain. You prepare environmental analysis reports to prioritize external events as they impact firm operations, present and future.
Analyze consumer decision making and how internal, situational, and social influences shape behavior in the marketplace. Paying special attention to the deconstruction of the product's components and basic pricing issues, you explore the primary principals of marketing (product, price, promotion, and place). Finally, you create a new product demonstrating your understanding of how consumers make decisions in the marketplace.
Explore the consumer market with an eye toward understanding how that market can be segmented by demographic, psychographic, geographic, and behavioral characteristics. You use segmentation techniques to develop strategies for targeting specific segments and develop a promotion plan focusing on advertising to reach a target market. You develop a television advertisement to illustrate your understanding of the target market.
Extend your environmental analysis capabilities by including international factors in the context of risks and opportunities. You analyze global currency and capital markets, social and cultural constructs, economic and demographic conditions, political and legal frameworks, and ethical and environmental realities. You explore business opportunities from the viewpoint of a firm owning a sustainable competitive advantage and evaluate techniques used to mitigate risks that may arise through their environmental analysis.