MARKET
Market is the collection of buyers and sellers that, through their actual or potential interactions determine the price of a product or sets of products. Buyers include consumers, who purchase goods and services, and firms, which buy labour, capital and raw materials. Sellers include firms, which sell their goods and services, workers, who sell their labour services etc. Different products have different markets.
In Economics: Market is a structure where buyers and sellers exchange any type of goods, services and information.
TARGET MARKET
Target market is a group of customers or individuals who are separated from rest of the market by a business before hand to aim its products and services to that particular group.
TARGET MARKET
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That apart, the Grand i10 had to challenge the competetion of Maruti 's Swift in the compact high segment and target young adults looking for stylish, spacious vehicle available at an affordable value. The car, meant for personal commuting, city driving and highways is given a sporty, aerodynamic and trendy styling, along with features like a smart key with a push-button start, rear AC vents, auto-folding mirrors and so on. Hyundai invested over Rs 1,000 crore on product development.
The Hyundai i10 targeted an age group of 25-35 years, and so a youthful and smart brand connection was essential. "The positioning line implied that this brand is the new currency that expresses the lifestyle of affluent car buyers with an element of individuality,"
MARKET STRUCTURE
Market structure refers to all firms that produce identical products which are homogeneous.
There are different types of market structures such as monopolistic competition, oligopoly, monopoly, perfect competition and monopsony.
Differentiated oligopoly market structure which comes under oligopoly is the market structure for Hyundai Motors India.
Hyundai and all the other firms (competitors) that produce similar products form a market structure.
Competitors of Hyundai are:
1. Honda
2. Toyota
3.
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The highest number of i10 cars sold (162) is from TRIDENT HYUNDAI in the month of February.
GRAPH- 1
INFERENCE
From the above chart we can derive that the highest sales is in the month of February of 162 cars and the least is in the month of October of 21 cars. There is a huge downfall in the demand in the month of March from 162 in February to 95 and again in the month of April it increased to 102 from 95 and then from the month of May till October there is a continuous downfall in the demand of i10.
GRAPH- 2
INFERENCE
From the above chart we can derive that the highest sales is in the month of February of 28 cars and the least is in the month of October of only 5 cars. There is a decrease in the demand in the month of March from 28 in February to 20 and again in the month of April it increased to 25 from 20 and then from the month. The demand is same in the month of May and July of 18 cars.
GRAPH- 3
The inventory was sold and replaced 5.49 times in the year of 2013. This ratio is high. This means that the demand for the Dollarama’s products is high. This indicates that Dollarama Inc.’s performance in the fiscal year of 2013 is high. 5) Discuss the debt to equity ratio and what it says about how Dollarama finances its operations?
P1: Describe customers in four different contexts: A Market: A market is a place where demand and supply operate. Buyers and sellers interact to trade their good and services. (What is a market? , n.d.)
Selfridges, also known as Selfridge & Co., is located in the United Kingdom and well-known and unique because of its history and how it currently operates. Selfridges was established by Harry Gordon Selfridge on 15 March 1909. It is a chain of high-end department stores whose flagship store on London’s Oxford Street is the second largest shop in the UK. Since 2003, Selfridges has been under the ownership of Galen Weston and has its stores at Oxford Street in London, in Birmingham and at Trafford and Exchange Square in Manchester. Selfridges won the Best Department Store in the World at the Global Department Store Summits in 2010, 2012 and 2014 (Selfridges, 2015a,b).
Figuring out your target market is a very important first step to figuring out a new marketing strategy for a company. The company my group chose was, Dave and Busters. Dave and Busters is an American-style entertainment center, featuring a restaurant, sports bar, and an arcade. There are many things that influence the demographic of a target market. In this paper I will analyze the target market demographics for our company; Dave and Busters, and explain why these demographics are so important for the financial side of Dave and Busters.
Answer: (a): Market segmentation is the first step in defining and selecting a target market to pursue and penetrate. Basically, market segmentation is the process of splitting up an overall market into two or more groups/classes of consumers. Each group of consumers is called as a market segment. Each group (or market segment) should be similar in terms of certain characteristics or product/ service needs. In business world, market segmentation is considered to be a most important tool in enabling marketers to better meet customer needs and requirements.
SPORT OBERMEYER, Ltd. EMBA – SEPT 15 – ENG-BL – S2 TEAM A 1. Using the sample data given in Exhibit 10, make a recommendation for how many units of each style Wally Obermeyer should order during the initial phase of production. Assume that all ten styles in the sample problem are made in Hong Kong, and that Obermeyer 's initial production commitment must be at least 10,000 units. (Ignore price differences among styles in your initial analysis.)
Q1a. MARKET STRUCTURE OF APPLE INC Apple Inc. operates different types of market structure in terms of their different products. In the smart phone business, they happen to be one of the major players with their different models of the “iphone” which makes them operate in an oligopolistic market. Oligopoly arises when there is an imperfect competition in which there are just few firms producing similar products. As a result of high competition, monopolies, interdependence among firms there are just a few big players having the market power and making it very difficult for new firms to penetrate the market with their products.
If the market is in recession the demand can be expected to be on the lower side whereas in case of boom condition, demand will definitely be much higher. Competitors: The strategies of the competitors over the past periods should be analysed in depth and should be used to fine tune the forecast for next
INTRODUCTION: Mercedes Benz is a globally known brand, originated in Germany. Benz is specialized in automobiles like cars, buses, trucks, etc. EXTERNAL BUSINESS ENVIONMENT: The automobile industry is a multi-billion industry with large brands in market. It’s important to carry out analysis on microenvironment before formulating strategies.
SUMMARY In this report, I am explaining how the impact of External Business Environment on Automobile industry in UAE. Also, how the external environment factors are dominant on the growth of an industry including dimensions of management, human resource, marketing and IT tools used in the Industry. INTRODUCTION
Market structures describe the competitive environment in which a firm operates. The characteristics of the market structure will have a major-influence on the competitive strategies and tactics that are implemented by firms. (Octotutor, 2014). For the purpose of this analysis, I have chosen to analyze the Coco-Cola Company, which operates in an oligopoly. This type of market has many implications for both consumers and competing firms.
Name: Jasmit Singh ID: J13013948 Section: DB 4 Lecturer: Ms Lingkeswari Table of contents Content Page Introduction 3 Market segmentation 4-5 Product strategy 6-7 Pricing strategy 8 Place strategy 9 Promotion strategy 10 Conclusion 11 Reference 12 Introduction BMW (Bayerische Motoren Werke AG) is a German automobile company which was founded in 1916 and is headquartered in Munich, Bavaria, Germany. BMW is now one of the largest car manufacturer in the world for its exceptional level of quality and producing cars with sporty driving characteristics. The BMW company 's slogan in English is "The Ultimate Driving Machine" or Sheer Driving Pleasure" which was originally translated from German slogan which is
For example developed countries will be more likely to buy a Mercedes than still developing countries. Age also plays a major role in segmentation as each generation differ in its own demands, and method of usage of products. So Mercedes
6.1.2 Price Price is the value or amount that customer pays to buy a product. For instance, for our Star Lab ice cream shop, we need to consider the cost of production of our ice cream, price of our main competitor and our potential customers demographics in order to succeed this competitive market. (C. Breidert, 2007, p.9) 6.1.2.1 Pricing Strategy Pricing strategy that can be used by our company such as penetration pricing, cost-plus pricing, value based pricing and more. But we think that market penetration pricing is the best pricing strategy to be used by our business.
ECONOMICS ASSIGNMENT CLASSIFICATION OF MARKETS AND ITS PRACTICAL IMPORTANCE SUBMITTED BY, REVIN FRANCIS NO-b1488 MBA-A MARKET STRUCTURE Market structure is defined by economists as the characteristics of the market. It can be organizational characteristics or competitive characteristics or any other features that can best describe a goods and services market. The major characteristics that economist have focused on in describing the market structures are the nature of competition and the mode of pricing in that market. Market structures can also be described as the number of firms in the market that produce identical goods and services. The market structure has great influence on the behaviour of individuals firms in the market.