,
,1
Introduction to
Marketing
, Learning Outcome
◉LO 1 – Identify alternative definitions of marketing and
core concepts
The presentation covers the concept of marketing audits, emphasizing their role in systematically reviewing a company’s marketing environment, strategies, and operations to identify problem areas. It discusses macro and micro environmental factors, including external trends and Porter’s Five Forces (competitive rivalry, customer and supplier bargaining power, threats from new entrants, and substitutes). The internal environment focuses on building customer value through reliable products, trust, fair pricing, and customer collaboration. It also introduces SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats, complemented by practical activities like conducting industry-specific analyses.
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