Daniel Burstein September 28th, I was reading The Wall Street Journal one morning about food makers using mobile games to market to children.
Gasoline Prices and ConsumerBehavior Political. Businesses are very vulnerable to changes in the political situation. For example, because consumer groups lobbied Congress, more stringent rules were made on the terms of car leases.
The tobacco industry is currently the target of much negative attention from government and public interest groups. Currently, the desire to avoid aiding the enemy may result in laws that make it more difficult for American firms to export goods to other countries.
Many industries have a strong economic interest in policies that benefit the industry may have a negative impact on the nation as a whole but enhance profits for the industry. However, the interests of the industry are much more concentrated. The industry can rally its stockholders, unions and employees, and suppliers e.
Firms are very vulnerable to changing laws and changing interpretations by the courts. Firms in the U. Firms are significantly limited in what they can do by various laws—some laws, for example, require that disclosures be made to consumers on the effective interest rates they pay on products bought on installment.
A particularly interesting group of laws relate to antitrust. These laws basically exist to promote fair competition among firms. We will consider such laws when we cover pricing later in the term. Changes in technology may significantly influence the demand for a product. For example, the advent of the fax machine was bad news for Federal Express.
The Internet is a major threat to travel agents. Although technological change eliminates or at least greatly diminishes some markets, it creates opportunities for others. Online sites such as eBay now makes it possible to sell specialty products that, in the old days, would have been difficult to distribute.
Although it has been possible for more than a hundred years to sell merchandise by catalog, buyers of these specialty products often had no easy access to the catalogs. Changes in customs or demographics greatly influence firms. Fewer babies today are being born, resulting in a decreased demand for baby foods.
More women work outside the home today, so there is a greater demand for prepared foods. There are more unmarried singles today. This provides opportunities for some firms e. Strategic Planning Plans and planning.
Plans are needed to clarify what kinds of strategic objectives an organization would like to achieve and how this is to be done. Such plans must consider the amount of resources available.
One critical resource is capital. Small startup software firms, on the other hand, may have limited cash on hand. This means that they may have to forego what would have been a good investment because they do not have the cash to invest and cannot find a way to raise the capital.
Other resources that affect what a firm may be able to achieve include factors such as: It would be very difficult to compete against Coke and Pepsi in the cola market. It would be difficult to compete against Intel and AMD in the microprocessor market since both these firms have a number of patents that it is difficult to get around.
Stores have space for only a fraction of the products they are offered, so they must turn many away. A firm that does not have an established relationship with stores will be at a disadvantage in trying to introduce a new product.
Plans are subject to the choices and policies that the organization has made. Some firms have goals of social responsibility, for example. Some firms are willing to take a greater risk, which may result in a very large payoff but also involve the risk of a large loss, than others.
Strategic marketing is best seen as an ongoing and never-ending process. The organization will identify the objectives it wishes to achieve. This could involve profitability directly, but often profitability is a long term goal that may require some intermediate steps.
The firm may seek to increase market share, achieve distribution in more outlets, have sales grow by a certain percentage, or have consumers evaluate the product more favorably.
Some organizations have objectives that are not focused on monetary profit—e.Research paper introduction writing tips. Just remember, all you have to present in the introduction is: definition of the topic idea and its urgency, explanation of the aim of the research, facts to hook the reader and thesis statement.
Now, have a look at research paper introduction example. Strategic Marketing Definition. Strategic marketing is the process of recognizing the various leads a company has in the market it serves or seeks to serve and allotting resources to exploit this leads.
Market competition motivates companies to increase sales volume by utilizing the four components of the marketing mix, also referred to as the four P's.
These P's stand for product, place. Tips to Effective Marketing for Start-Ups Starting a new business takes a lot of research and planning. The marketing portion of your business plan is one of the . Free business planning and marketing tips, samples, examples and tools - how to write a business plan, techniques for writing a marketing strategy, strategic business plans and sales plans.
Oligopoly Market Definition: The Oligopoly Market characterized by few sellers, selling the homogeneous or differentiated products. In other words, the Oligopoly market structure lies between the pure monopoly and monopolistic competition, where few sellers dominate .