Marketing for Managers - Lecture 3: Microenvironments (Industry & Market)
What you'll learn
- Analyze the concept of microenvironments in marketing and evaluate their profound impact on organizational success.
- Utilize Porter's five forces model to assess industry dynamics and appraise the formidable competitive forces at play.
- Understand the difference between an industry and a sector, and evaluate their respective implications for devising effective marketing strategies.
- Conduct comprehensive internal firm analysis and environmental analysis to discern strengths, weaknesses, opportunities, and threats (SWOT) with precision.
- Employ enterprise value chain analysis as a strategic tool to craft marketing strategies that maximize organizational value.
- Apply advanced techniques in competitor analysis to discern, evaluate, and strategically respond to competitors' strategies and market positioning.
Our Marketing for Managers: 03 – Microenvironments, Industries and Markets course is designed to prepare you to deal with the marketing forces affecting your organization. This course aims to assist you in understanding the process of analyzing your markets and environments, and planning and executing marketing strategy for success. Marketing is an essential function that requires all organizational stakeholders to understand and be involved. We'll cover the microenvironments of marketing; Porter's five forces model; the difference between an industry and a sector; internal firm analysis & environment analysis; enterprise value chain analysis; Porter's value chain; competitor analysis; and SWOT – gap analysis. By the end of this course, you'll have broadened your understanding and skill in marketing theory and operations. Training in this discipline can provide more opportunities for career advancement and allow you to explore some of the career options available in this exciting line of work.
The Marketing for Managers: 03 – Microenvironments, Industries and Markets course is Part 3 of the 5-Part extended Marketing for Managers series presented by Sentinel|9. It features lecture-style videos, real-world case studies, downloadable materials, and self-knowledge quizzes. Gain excellent skills to help you manage your company.
Version 1.4: Updated 12 July 2023
