Taco Bell

Competition being one of the major issues that often must be addressed in the business world, it is important for a firm to learn on ways to reduce the impact of the competition. Competition is definitely an important factor in helping a business

Managers generally consider the rivalry among competitors as a major source for deriving strategy. As explained by the Michael Porter it is a narrow view of competition. A set of other parameters should be evaluated, mentioned in article as five competitive forces, along with industry

The Chief Executive Officer Greg Creed for Taco Bell launched an advertising campaign which cost the company 3-4 million to combat the negative publicity that went forward nationwide.

When examining competitive advantage, it is also important to consider the market and take into account the existing competition against larger firms.

If   a   company   wants   to   be   successfull   in   their   business   it   has   to   be   able   to   create   competitive   advantage  over  it  competitor  in  a  same  business  area.  (De  Wit  &  Meyer,  2010).  What  approach   or   strategy   should   the   company   take   into   account   in   order   to   create   competitive   advantage   in   their  business  environment  is  the  core  issue  for  the  managers.

The market environment is a marketing term and it refers to all of the forces outside of marketing that affect marketing management's ability to build and maintain successful relationships with target customers. Company, its suppliers, distributors, and its competitors are also impacted by what is happening in the world. To succeed therefore, it is necessary to continuously monitor, anticipate, and adapt, to that environment, and wherever possible, shape that environment. The market environment consists of both the macro environment and the micro environment.

In order for the reader to have an understanding of this question is important to begin by defining Micro-environment. This term is a factor of the Marketing Environment and it consists of the issues that, in one way or another, affect the company’s ability to serve its clientele in a close and direct way. This includes factors such as customers, suppliers, competitors, shareholders, employees and media (among others). Having this in mind, it could be safe to state that the micro-environmental factors affecting the first

The marketing environments fall under two catagories. The macro-proximate environment and the macro-widened environment.Micro-widened environment include those factors that can vary from day to day and which the firm has no direct power in changing its fators, such as demographic factors, legal factors, technological factors, political factors and several others. Micro-proximate environment denotes those elements over which the marketing firm has

An essential part of corporate strategy is choosing the right portfolio of business to compete in especially when it concerns growth strategy and over the years this has become one of the key challenges faced by managers. It is highly imperative for business leaders to understand the different strategic options suitable for operating in various types of industries or markets. Suffice is to say that the business environment, which includes the competitive activity also plays a deep-seated role in deciding which strategic choice is most appropriate for the company or firm.

Today’s markets hold aggressive competition between companies in order to dominate as much share as they can from the market. That is why most companies are seeking for a competitive advantage that will differentiate them from their other competitors and makes consumers buy their services or products over the others.

The microenvironment refers to the forces that are close to the company and affect its ability to serve its customers. It includes the company itself, its suppliers, marketing intermediaries, customer markets, competitors, and publics.

According to Michael Porter, “a company strategist who understands that competition extends well beyond existing rivals will detect wider competitive threats and be better equipped to address them” (Porter, 2008, p.16). Thinking comprehensively about the structure of the industry as well as its customers can afford companies the ability to obtain superior performance. Therefore, it is key for companies to focus on how to maintain existing customers as well as lure new ones.

Maintaining competitive advantage in today 's ever-changing business environment is not a simple task. For any company to maintain a competitive advantage, the company must develop the advantage such that it is "rare, costly to imitate, no substitutable, and nontransferable" (Snyman, J.H., 2006). Along these lines, Michael Porter has provided five competitive forces that can assist any company in maintaining the advantage. These forces are "the entry of new competitors, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers, and the rivalry among existing competitors ' " (Pfeffer, J., 2005). Three methods for maintaining competitive advantage that will

The photograph shown in the cover page is the one that I will analyze. It shows a Chipotle restaurant, which to the average person, is just that, a regular restaurant; however, there is a purpose behind it. Being in the twenty-first century, where the modern era continues to advance, we see affect in not only our technological gadgets, but also in our restaurants. This era causes restaurants to change into more appealing environments. Normally, when we think of a Mexican restaurant, we assimilate it with a very stereotypical way. The stereotypical way we think of a Mexican restaurant is in a traditional looking building with colors that reflect the country of Mexico. Usually with very fluent waiters and waitresses who may not be very fluent with English, as well as menus that use the Spanish names of the recipe, with all the ingredients in Spanish. Basically, when we think of a restaurant in a stereotypical way, we think of the culture the restaurant is geared to specifically; however, this type of style breaks that stereotype by creating a very hipster style with its modern advances in its restaurant that appeals to the Modern Era with also serving the relatively same Mexican food. So the purpose of the image is to show how the Modern Era doesn’t stop at technology in that it also carries on to our eateries, and how the restaurants have to change along with what is the “status quo” based on the population.

The marketing process is a necessity for all corporations who seek to grow in their economic gain. The process opens up many door and help with understanding your environment and customers. The microenvironments are the environment in which all firms operate. It has six categories. They are cultural, demographic, economic situation, social trends, political, and technological. Each of these categories affect the competitive environment in it own way. While they all reach wide range in how they are measure they are individual in how the interact with the market.