Use the Internet to conduct research to determine and describe potential opportunities and threats in that manufacturer’s external environment by studying The Social trends (such as changes in buying behaviors and the demand for time-saving goods and services). You must put some thought into that topic matter.
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Use the Internet to conduct research to determine and describe potential opportunities and threats in that manufacturer’s external environment by studying The Social trends (such as changes in buying behaviors and the demand for time-saving goods and services). You must put some thought into that topic matter.
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- Describe the impact (or potential impact) of artificial intelligence in the retail industry, or how it is being used to create new markets in the retail industry, or how it is used for competitive advantageResearch and discuss what to use and what to avoid regarding the use of technology and trends in your businessStructural Similarities exist when underlying mechanisms of technology resemble or match the underlying mechanisms of the market. Is this true or false
- 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.As a marketer, how are you going to solve and help a business that is experiencing shortage in supply because of a sudden demand?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?
- How do CRM systems support businesses in abiding by data protection regulations other than GDPR?Despite an economic recession caused by COVID-19 in 2020, the non-life insurance sector grew. As a result, insurance companies have attempted to create a new segment based on the surge in demand fuelled by increased health awareness in the wake of the Pandemic. Discuss how insurance companies can form their new market segment.Despite an economic recession caused by COVID-19 in 2020, the non-life insurance sector grew. As a result, insurance companies have attempted to create a new segment based on the surge in demand fueled by increased health awareness in the wake of the Pandemic. Discuss how insurance companies can form their new market segment.
- Critically discuss why it is important that marketers study the business environment within which they operate, including their competitors. Give a company of your choice as an example.Define the nature and scope of the questions you must answer with regard to your market. Identify the types of information you will need about the market to answer those questions. For example, do you need to know about the buying habits, household income levels, or attitudes of potential customers?How can market analysis benefit a business?