Learning Objectives Chapter 2

9.) Identify competitive dimensions and their significance to marketers.

The competitive environment includes all organizations that could possibly satisfy the needs and desires of the organization's target market. Marketers need to be aware of the type of competitive environment in which they are operating. This will greatly influence the number and types of competitors they must be concerned with.

Marketers must be as concerned with how their competitors can affect the organization. Rivalry among competitors, threats of new entrants, threats of substitute products, and bargaining power of both suppliers and buyers are all competitive forces at work that can impact the organization.