Explain why is it important for a manager to understand how the MARKET FORCES behave? Make sure to give a concrete examples in your discussion.
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Explain why is it important for a manager to understand how the MARKET FORCES behave? Make sure to give a concrete examples in your discussion.
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Solved in 2 steps
- Critically evaluate the importance of monitoring the external business environment and how your chosen organization manages the gap between the demands of the market and its ability to respond to the changes in the marketing environment.Market Structures: Why is it necessary for business firms to have knowledge on the Market Structures? In what ways will this knowledge be of help to business firms? Why is it advantageous to business firms?What are the market management orientations? Justify each of them with appropriate examples and state why that orientation is relevant today
- Provide a synopsis of the marketing issue What makes you think this is a marketing issue What macroeconomental issues led to the current situation Do you predict recovery ( if a negative ) or success ( if a new launching or revamping of a current product)? Are there ethical consequences involved? Is the organization handling this marketing issue appropriately?In order for a market to exisit, there must be a need for a product, ability to pay, willing to buy, authority to buy, and be a group large enough to result in a profit. Without these, you do not have a viable market. What are some things a person can do to prevent not having a viable market?1-1. What is marketing?
- Q2. Identify ONE Megatrend from each of the following trends impacting your preferred career Social Technological Economical Environmental Political LegalWhat are some common mistakes that businesses make when attempting to control their marketing efforts, and how can these be avoided?13. What is the term given to the groups, individuals, and organizations that are directly affected by the practices of an organization? A) Primary agents of interest B) Social auditors C) Competitors D) Organizational stakeholders 14. The Chinese government controls all factors of production, the Chinese government has which type of economic systems? A) Capitalism B) Socialism C) Market D) Communism
- The use of management science in "market analysis". List three positive and negative outcomes from this application of management science.What is market opportunity analysis?Is it reasonable to believe that marketing technologies such as Big Data and Predictive Analytics would have been effective 10-15 years ago? Why?