Product Market Characteristics

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Product markets are the marketplace where a good or service is bought and sold. A product market doesn’t include trading in raw materials, and instead it focuses on finished goods that are purchased by consumers, businesses, the public sector and foreign buyers. Product markets: countries have opened up their markets causing to grow rapidly during the past decade, but companies still struggle to get trustworthy information about consumers, particularly from those with low incomes. To grow a consumer finance business is difficult, for example, because the data sources and credit histories that firms draw on in the west don't exist in emerging markets. Market research is in the beginning on developing countries, and it's hard to find the profound…show more content…
The price that is set normally to be fixed for some length of time. Fifthly, the labor market is far more difficult than the commodity market. In general the occupation or financial reward of a person is entitled to a decent treatment and the dignity of the person must be respected. The sixth characteristic of the labor market is that the majority are employees with small functions such as employing person or as employed managers of employing units. The majorities are laborers, and are interested in short wage, working hours, and working conditions. The labor market performs more tolerably during periods of full employment than during periods of depression. Because in periods of full employment more jobs are open providing an explanation for the reduction of wage differentials during periods of full employment. Recent empirical studies undertaken in the USA indicate that in the absence of collective bargaining, employers will continue indefinitely to pay diverse rates for the same grade of labor in the same locality under strictly comparable…show more content…
several ceos have asked why emphasize the role of institutional intermediaries and ignore industry factors. they argue that industry structure, such as the degree of competition, should also influence companies strategies. but when harvard business school professor jan rivkin and one of the authors of this article ranked industries by profitability, they found that the correlation of industry rankings across pairs of countries was close to zero, which means that the attractiveness of an industry varied widely from country to country. so although factors like scale economies, entry barriers, and the ability to differentiate products matter in every industry, the weight of their importance varies from place to place. an attractive industry in your home market may turn out to be unattractive in another country. companies should analyze industry structures-always useful exercise-only after they understand a country's institutional

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