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- The presence of effective within an individual company and across an economy as a whole, helps to provide a degree of confidence that is necessary for the proper functioning of a market economy. a) Risk assessment b) Monitoring c) Corporate Governance d) Internal AuditIn 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?Ethics Some marketers attempt to disguise themselves as market researchers who want to ask you questions when their real intent is to sell something to the con- sumer. What is the impact of this practice on legitimate researchers? What do you think might be done about this practice?
- Find words which mean the following. 1 a company's sales expressed as a percentage of the total market 2 short-term tactics designed to stimulate stronger sales of a product 3 the situation in which there is only one seller of a product 4 companies offering similar goods or services to the same set of customers 5 a short and easily memorized phrase used in advertising 6 the division of a market into submarkets according to the needs or buying habits of different groups of potential customers 7 a small and specific market segment 8 a factor which makes you superior to competitors in a certain respect 9 a business's total sales revenue 10 a period during which an economy is working below its potentialMichael Porter's 5-forces framework is designed to analyze? factors affecting profitability in a industry factors limiting product differentiation within a product category elements of opportunity in cost cutting for a firm the limits to arbitrage in the secondary market1. Examine how marketers can estimate the costs of production. ( explain deeply with step by step answer and type the answer).
- 1. How does market environment affect the business? 2.Imagine your retail shop is going into bankrupcy during this economic crisis due to COVID19. You are trying to revive back your business by venturing into an online store. Now you have to focus on selling brands rather than selling products. How do you change the perception of your customers using the issues below: Issues in consumer imagery: 1.Product positioning and repositioning 2.Positioning of services 3.Perceived Price 4.Perceived quality 5.Store service image 6.Manufacturer’ image 7.Perceived riskWhat are the main advantages of a market-oriented approach Why might a market-oriented approach be unsuccessful?
- Give the most important 4 assumptions of a perfect market.(1) Would two companies interested in the samegroup of customers automatically use the same targetmarket approach (such as differentiated orconcentrated)? Why or why not? (2) Why aren’tmarketers ultimately in control of the positions theirproducts achieve in the marketplace?Ethics Some marketers attempt to disguise themselvesas market researchers who want to ask you questionswhen their real intent is to sell something to the consumer. What is the impact of this practice on legitimateresearchers? What do you think might be done aboutthis practice?