Premium Essay

Markets

In: Business and Management

Submitted By rhovland
Words 536
Pages 3
Question 4. The imports of products into a country cannot provide an accurate market potential of the product. The market potential of a product manufactured by a firm depends on the total demand of the product and the total supply of the market. One thing to take a look at is quantity demanded. The quantity demanded of any product by customers is not constant. It varies with the price of the product. For example a decrease in price usually increases the quantity demanded. When a new product enters a new market through importation there is an increase in its price. This is due to the additional costs of shipping the product from the country it was manufactured in and the import duty and other taxes imposed by the nation. Therefore, a company could be exporting a lot of products to a new market but be losing profit margins because of increased expenses. To estimate the market potential of a product it is essential to look at the actual customers are. Another thing to consider is why they want the product and how the price affects them. Another reason is that they may be making the product domestically. Even when basic need is identified, research look for current trade flows to see what level of activity is in place. Just because goods are currently imported doesn’t mean they will be imported in specific countries. Initial screening evaluated the basic need for a product or service in a specific market. It evaluates markets relevant to product characteristics. This is a useful tool in importing of goods. However, the answer to the question is no.
Question 8.
Segment screening is using market segments as the basis for market selection. This is a type of market screening. Market screening is a method of market analysis and assessment that permits management to identify a small number of desirable markets by eliminating those judged to be...

Similar Documents

Premium Essay

Market

...Rather than recognizing the potential economic utility of commodity derivative markets in price discovery and risk management, the government has been more apprehensive about its alleged ill-effects. As a result, over time, futures trading has been subjected to strict regulations, and certain commodities have been inflicted with occasional bans. Thus, while the “disutility” of the market is yet...

Words: 6878 - Pages: 28

Premium Essay

Market

...OVERVIEW OF MARKETING MODULE -1 OVERVIEW OF MARKETING OVERVIEW OF MARKETING 1 LEARNING OBJECTIVES After reading this module, students should: Know why marketing is important Know what is the scope of marketing Know some of the fundamental marketing concepts Know how marketing management has changed Know what are the necessary tasks for successful marketing management Know scope and importance of marketing Know what are the recent trends of marketing Know what are the different levels of market segmentation Know how a company can divide a market into segments Know how a company should choose the most attractive target markets Know what marketing mixes are. SUMMARY From a managerial point of view, marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stake holders. Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. Marketers are skilled at managing demand: They seek to influence the level, timing, and composition of demand. Marketers are involved in marketing many types of entities: goods, services, events, experiences, persons, places, properties, organizations, information, and ideas....

Words: 8049 - Pages: 33

Premium Essay

Market

...------------------------------------------------- MARKETING – TD1 Marketing is the process by which companies create values for customers and build strong customer relationship in order to capture value from customer in return. Kotler, Principles of marketing. I- History of Marketing * Consumer is much more informed than before: * He is more educated, * He can compare at any time (private labels), * He does not trust brands anymore. * He has a wide experience of traditional marketing techniques and develops his critical sense * He is subjected to contradictions of hyper selection * He refuses blind consumption, centred on ownership * Consumer is less and less sensitive to mass marketing: towards a new consumption model? The changing marketing landscape: digital age, rapid globalisation, ethics and social responsibility, not-for-profit marketing. Management orientations: these are alternative concept. Today there are different concepts. The don’t replace each other but new concepts appear. 1) Production concept: consumers prefer products that are widely available and affordable. 2) Product concept: Not only the availability of the product but also its quality, performance, innovation…Consumer will favour products that offer the most in quality, performance etc. 3) Selling concept: if you leave alone your consumer, he will not buy enough of your product. You must therefore invest in salesperson. It is......

Words: 700 - Pages: 3

Premium Essay

Market

...”To stay competitive, organizations must change with market conditions and customer desires” (MacVicar & Gooderham, p1). Classic Airlines is facing a difficult time in their history. The organization has lost many of its loyal customers and its remaining customers are flying less frequently. The organizations CEO, Amanda Miller has challenged the marketing team with improving their number of loyal customers while increasing Classic Airlines profitability and stock price. All must be accomplished with a 15% cost reduction. To assist in its growth strategy, Classic Airlines marketing team is looking at growing globally and adding the United Kingdom to their international market. This paper will review channel and pricing strategies Classic Airlines must consider to achieve its desired results. Justification of choice of international market – UK Loyalty is a difficult goal and the most marketers can do at times is to encourage consumers to purchase one brand over another. Classic Airlines choice for an international market is access to the vast number of air travelers each year in the United Kingdom. The Department for Transportation in the United Kingdom estimates that “carrying over 235 million passengers a year and over 2.3 million tons of freight. Demand for air travel is projected to grow in the medium to long-term....

Words: 1661 - Pages: 7

Premium Essay

Markets

...Initial market entry decisions have typically focused on country evaluations based on macro-economic data. While appropriate in providing an initial screening of countries, other factors, notably contextual factors, can provide important insights in assessing international market opportunities. The purpose of this paper is to examine the impact of context at four distinct levels. Design/methodology/approach – The literature on the influence of context on consumption and purchase behavior is reviewed to provide a framework to understand contextual factors as a means to refine entry strategy and develop effective segmentation strategies. Findings – A wide range of contextual factors exert influence on consumption choices and contribute to within-country heterogeneity. These are typically examined at the macro-level, but also need to be examined at the meso-level, micro-level and situational level to fully assess market opportunities and establish viable market segments. Practical implications – Examination of contextual factors provides a richer and deeper understanding of which international markets to enter and which segments to target. Within-country cultural diversity, dramatic economic and regional disparities and marked differences in the infrastructure need to be assessed. In particular, examination of contextual factors helps to shed light on heterogeneity within countries not only in customer behavior, but...

Words: 6454 - Pages: 26

Premium Essay

Markets

...There are many ETFs presently listed on the NSE. 3.2 SALIENT FEATURES An Exchange Traded Fund (ETF) is essentially a scheme where the investor has to buy/ sell units from the market through a broker (just as he/ he would by a share). An investor must have a demat account for buying ETFs (For understanding what is demat please refer to NCFM module ‘Financial Markets : A Beginners’ Module). An important feature of ETFs is the huge reduction in costs. While a typical Index fund would have expenses in the range of 1.5% of Net Assets, an ETF might have expenses around 0.75%. In fact, in international markets these expenses are even lower. In India too this may be the trend once more Index Funds and ETFs come to the market and their popularity increases. Expenses, especially in the long term, determine to a large extent, how much money the investor makes. This is because lesser expenses mean more of the investor’s money is getting invested today and over a longer period of time, the power of compounding will turn this saving into a significant contributor to the investors’ returns. Scheme A B Investment (Rs.) 10000 10000 Expense Ratio 1.50% 0.75% Term (Years) 25 25 Compounded Average Growth Rate (CAGR) 12% 12% Amount (Rs.) 116508.16 140835.93 Difference (Rs.) 24327.77 If an investor invests Rs 10,000 in 2 schemes each, for 25 years, with both the...

Words: 1846 - Pages: 8

Free Essay

Market

...We offer an upscale market where the produce is hand-selected, meats are prime cuts, and our fish is flown in. If you are looking for the finest imported cheeses and other delicacies you have found the right spot. Products: * Gourmet Coffee and Tea * International cheeses * Fresh baked breads and cookies * Caviar and Smoke Salmon * Fresh Wild Caught Swordfish Steak * North Atlantic Lobster Tail * Wild Mexican White Raw Shrimp * USDA Prime Beef * Organic hand picked fruit * Broad selections of wines and desserts Price Because we place such high standards on fresh quality food our prices are higher than the average market. We hand select our products from the finest establishments to ensure our customers receive the best of the best. We believe taste comes first, and higher quality comes at a higher cost. We do offer a Taste Club membership that will allow you to earn points towards discounts and free items from our bakery. People In addition to providing our customers with the finest high quality foods we also strive in making every shopping experience an excellent one. Our staff will go through extensive training to ensure they are very knowledgeable in the products we offer. We will have on site at all times an executive chef in the kitchen to help any customers needing help with menu planning and wine selections, and preparation tips....

Words: 383 - Pages: 2

Premium Essay

Market

...Definition Market share can be defined as the percentage of all sales within a market that is held by one brand / product or company.� Market share can be measured in several ways.� However, the two most important measures are by: - Sales revenue - Sales volume (the number of units sold) Examples of market share Market share information on the UK clothing retail market is summarised below: Position Brand Sales(�'m) Market Share (%) Number of Outlets 1 Marks & Spencer 2,743 10.2 315 2 Next 1,708 6.3 333 3 Arcadia 1,609 5.9 1,603 4 Debenhams 1,076 4.0 97 5 Asda 963 3.6 215 6 Matalan 776 2.9 137 7 Tesco 710 2.6 588 8 Bhs 631 2.3 163 9 New Look 552 2.1 573 10 John Lewis 482 1.8 25 Total of Top 10 11,250 41.8 UK Market 26,911 100.0 Source; Deutsche Bank 2002 The UK clothing market, as defined by Deutsche Bank in their recent report, is valued at �26.9 billion.� It is one of the most concentrated retail markets in Europe, with the top ten retailers accounting for some 42% of the market. What is market concentration?...

Words: 483 - Pages: 2

Premium Essay

Market

...Word Count: 3759 words [pic] Submitted By: Date Submitted on: Table of Contents | | | | |Serial Number |Heading |Page Number | | | | | |1 |Cadbury |3 | | | | | |2 |Situational Analysis |3 | | | | | |3 |PESTLE Analysis |3 | | | | | |4...

Words: 850 - Pages: 4

Premium Essay

Market

...: A short history of the organization and a description of their product The other sections can be split up accordingly, Just put your name on what you would like to do: Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers. Any issues or opportunities your organization or industry faces that affect its competitiveness and long-term profitability with regards to your product: This may include, but is not limited, to the following elements. Price elasticity of demand Technological innovation The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity Cost structure Factors affecting variable costs, including productivity and others that change the supply of and demand for labor LAURA Factors affecting fixed costs LET ME KNOW WHAT YOU GUYS THINK AND IDEAS? IT WOULD BE IDEAL TO HAVE THIS DONE BY SUNDAY EVENING. I WILL NOT BE ABLE TO SUBMIT THIS WEEK ON MONDAY AS I AM HAVING MY HOLDAY WORK PARTY THAT EVENING RIGHT AFTER WORKING A 12 HOUR SHIFT WHAT FUN...

Words: 262 - Pages: 2

Premium Essay

The Market

...The market, its definition A market consists of all the consumers who purchase a particular type of good or service. The market may be sub-divided into separate segments each of which can be considered to be a separate market in its own right. It is very important for a business to be able to define its market [1]: 1. So that it can estimate the size of the market 2. So that it can forecast the growth of the market 3. To identify the competitors in the market 4. To break the market down into relevant segments 5. To create an appropriate marketing mix to appeal to customers in the market. There are different types of markets for example: Business-to-Business (B2B) markets in which a businesses customers are other businesses. Business to Consumer (B2C) markets in which businesses sell to other customers. . Markets are typically structured into segments. Primary segmentation is between customers buying entirely different products. [2]. Contribution of marketing to achievement of its business objectives The strategic plan therefore is the detailed planning involving marketing research, and then developing a marketing mix to delight customers. Every organisation needs to have clear marketing objectives, and the major route to achieving organisational goals will depend on strategy. It is important, therefore, to be clear about the difference between strategy and tactics [3]. ....

Words: 5306 - Pages: 22

Premium Essay

Market

...Market clearing Equilibrium price is also called market clearing price because at this price the exact quantity that producers take to market will be bought by consumers, and there will be nothing ‘left over’. This is efficient because there is neither an excess of supply and wasted output, nor a shortage – the market clears efficiently. This is a central feature of the price mechanism, and one of its...

Words: 1212 - Pages: 5

Free Essay

Market

...CIMA  Certificate  C4  –  Fundamentals  of  Business  Economics  (Part  A:  Micro)   CERTIFICATE  C4   FUNDAMENTALS  OF  BUSINESS  ECONOMICS   (Part  A:  Micro)   1 Introduction   Economics   studies  the  ways  in  which  society  decides   what   to   produce,   how   to   produce   it,  who  to  produce  it  for  and  how  to  apportion  it.  The  need  to  make  such  decisions  arises   because   economic   resources   are   scarce.   Making   decisions   involves   the   sacrifice   of   benefits  that  could  have  been  obtained  from  using  resources  in  an  alternative  course  of   action.  This  sacrifice  is  known  as  the  opportunity  cost  of  an  activity.       Economists   assume   that   people   behave   rationally   at   all   times   and   always   seek   to   improve  their  circumstances.   • Producers  will  seek  to  maximise  their  profits.     • Consumers  will  seek  to  maximise  the  benefits  (their  'utility')  from  their  income.   • Governments  will  seek  to  maximise  the  welfare  of  their  populations.    ......

Words: 17959 - Pages: 72

Free Essay

Market

...Current Market Conditions Competitive Analysis The demand for electric motor vehicles is an established and ever growing market worldwide and we must consider that it will eventually develop into a competitive market with similar electric vehicle products.  A paramount challenge for Tesla and our potential launch as competition in the electric vehicle market is meeting realizing the break even point is possible given production capacity.  Demand for functional, quality electric vehicles is high and one consideration that has given stockholders pause in considering their investment is determining whether Tesla can meet production requirements to break even and eventually profit. There is a strong demographic for customers of electric cars as there are many Americans interested in saving money on fuel consumption and being more ecologically responsible with lessened emissions and carbon footprint. California is a stronghold for the electric automotive market because of higher gas prices and belief system of those who live there. The electric vehicle (EV) market is growing fairly rapidly according to new analysis from the Centre for Solar Energy and Hydrogen Research — with more than 320,000 new EV registrations in 2014, bringing the total global market up to 740,000 vehicles. These numbers will continue to grow as fuel prices continue being instable and as new EV makers figure out ways to capture potential buyers with state of the art design and performance technology....

Words: 2512 - Pages: 11

Free Essay

Market

...Current Market Conditions Analysis Many people dream of becoming a business owner or even running a militia million dollar company. Imagine planning and organizing a large corporation when considering developing a new product or service. Ironically this process always starts with a vision or a dream. For instance according to Mactrast (2013), the very first Apple iPod contained an Easter egg; that was accessible by circumnavigating to the ‘About’ menu and holding down the center button for a few seconds (12 Interesting Facts about Apple). This products development emerges from an individual’s visions and dreams. When offered the opportunity to turn ones dreams into reality team A. acts swiftly; the marketing director at Apple Inc. is requesting for team A to create a competitive market analysis to determine the new products; the iPad mini’s potential success. Team A’s analysis will focus on Apples primary competitor in the product’s market. This analysis will help the team produce recommendations on how the organization can maximize profit-making potential, and successfully compete in the new market. The team must also consider the effects the recommendations will have on the corporation. Apple Inc. is an American worldwide corporation founded on April 1, 1976; the main headquarters is in Cupertino, California. Apple Inc. is an international corporation that bazaars and enterprises software and hardware for computers and electronics ("Apple Inc.," 2013)....

Words: 1731 - Pages: 7