Chapter 6 – Analyzing Business Markets

The following case study is in regards of economic market structure. In the world of economics all businesses or companies rather, are categorized in certain market structures such as monopoly, oligopoly, or perfect competition, for instance, the market structure for restaurants. Most restaurants are considered monopolistic competition. Being that they all sell and serve food. They have to have instances that vary such as price, logos, servers, locations, décor, types of food, and hospitality.

Characteristics of different business markets include: General market description, business opportunity, market segmentation, market size & trends, competition, customer profile and business environment. Looking at the different characteristics can help evaluate the market, this can be achieved by dividing the market into specific segments: by geographical market: by customer type: such as industries, professions, age. Evaluate the market size and trends by breaking the market into segments. This is often done to help assess who is the competition and how strong it may be within its own field.

'Traditional marketing in the business-to-business environment requires very different strategies from those campaigns directed towards the consumer market.' (ExtraVision, n.d., p. 1) 'Consumer competition can be a lot fiercer, with customer loyalty a constant battle.? (ExtraVision, n.d., p.1)

j.Explain and justify which of these your business may use when marketing their product or service (one of the businesses products/services you have explained within task d).

C) there are many buyers and sellers, and each is large relative to the total market.

| A company 's organizations and processes for distributing and delivering products to the final customers constitute

12 (TCO 3) Identify the primary characteristics of monopolistic competition and oligopoly. Give examples of each.

C. Any gain or loss in the firm's revenue from increasing its price would depend on the price elasticity of demand: The more elastic the demand, the higher the revenue potential from a price increase.

21) Suppose that an industry is characterized by a few firms and price leadership. We would expect that:

D. defining some broad product-markets where you may be able to operate profitably 17) The product life cycle

C. The decision-making process by which organizations establish and satisfy their needs for goods and services.

How should this market be segmented? Identify the key segmentation variables that are relevant for this market.

​the activity involved in getting a product or service from the manufacturer to ultimate consumers and organizational buyers.

3.) Strong presence in high margin health services business. In addition to UnitedHealth Group’s leadership position in the health benefits market segment, UnitedHealth Group has strong information and technology based health services platform through its business segments which is Ingenix, OptumHealth and PrescriptionSolutions. The “CNN MONEY” (2012) website states Ingenix is one of the largest health information, technology and consulting companies in the world. The UnitedHealth Group derived $2.3 billion of revenues from Ingenix which contributed $284 million (excluding $200 million in goodwill impairment and business line deposition charges) of operating profit, and an operating margin of 12.1% during FY2010.

Elements that make a business such as the investors, consumers, and strategic management will be explained in detail.