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Market types - Economic Factors

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You want to start a company and are trying to decide between two different industries. You are doing your final research before you write your business plan.

Industry A has 20 firms and a concentration Ratio (CR) of 30%

What is the name for this type of industry?

Describe some of this industry's characteristics.

If you were in this industry and there was an increased demand for the product that pushed up the price of goods what long-run adjustments would you expect?

What does your anticipated adjustment process imply about the CR for the industry?

Industry B has 20 firms and a Concentration Ratio (CR) of 80%

What is the name of this industry's characteristics?

Describe some of this industry's characteristics.

What are some reasons why this industry has a high CR while Industry A had a low CR?

Is it possible for smaller firms to thrive and profit in Industry B?

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Solution Summary

In about 631 words, this solution discusses different types if industry, as well as their characteristics, and how this relates to concentration ratio in an industry.

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Introduction to and Fundamentals of Strategic Marketing

You are to define each of the factors your VP of Marketing asked you to review analyze how your Company's products respond to changes in those factors, then defend your position in terms of the current market(s) for the product.

Company is Burberry or Coach

You need to consider the ways in which the market for your designer's/brand's products/goods are segmented. The key to building a case for or against what your designer/brand is doing is to present the market structure for the products/goods your designer/brand sells including how that market is segmented, the target markets served, and who competes in those markets.

If you define the target market based on demographic, socio-psychographic, and/or geographic factors; be careful to cite substantial differences in behavior (clothing chosen) of shoppers by age, income, gender, marital status, and family life style. If you don't define the target market based on demographic, socio-psychographic, and/or geographic factors; you need to explain why those factors are not applicable for your designer/brand.

What is the socio-economic class of the buyer of your clothing? In other words, in terms of the marketing environment for clothing, you need to comment on the current socio-economic environment.

Is that buyer affected by swings in the economy?

Is there competition for your current, potential, or prospective buyers' business? If so, how competitive is it, out there? In other words, you also need to consider the ease with which competitors can duplicate your products (goods), your methods and content of promotion, your methods of distribution, and your prices.

Is the buyer/wearer:

A Man or Woman
A child or adult
Big or small
Short or tall
Need Slim or regular or husky
Need Pleats or no pleats

Does the buyer want cotton, wool, blend, polyester, microfiber?

In terms of price points:

1. Is there any competition at the low end?
2. Is there any competition at the mid range?
3. Is there any competition at the high end?

You will find instructions on how to get into databases that will help you find information on companies and products at the following url
http://sites.google.com/site/zaydeealan0/tui-unviersity/searchingbrandproductcountryinformation

This does NOT require a detailed essay. Instead use section headings for each of the topics you address in your paper followed by a discussion of each of those topics. Possible section/topic headings are:

Introduce the issue -- what designer's (brand, product, or good) are you analyzing, what are the problems that designer's (brand, product, or good) faces?

(1) Analyze the environment
(2) Target Market - current
(3) Products - current
(4) Promotion - current
(5) Distribution - current
(6) Pricing - current

Evaluate the importance of the following factors by current, potential, and/or prospective customers
(1) Marketing environment factors
(2) Target Market
(3) Products
(4) Promotion
(5) Distribution
(6) Pricing

Come to a Conclusion regarding the relative importance of the factors driving choice
(1) Marketing environment factors - defense of position
(2) Target Market - defense of position
(2) Products - defense of position
(3) Promotion - defense of position
(4) Distribution - defense of position
(5) Pricing- defense of position

Available on 12 May 2010 at
http://www.fastcompany.com/1627908/a-6-step-guide-to-brand-transformation

Latest luxury-retail reports illustrate spending upswing
Coach and Burberry reported solid sales growth, bearing out predictions that luxury-retail spending is recovering. "During the recession, it was not considered 'cool' to shop. So right now, people with money are spending because of that pent-up demand," says consultant Patricia Pao. "And interestingly, so are people with less money, not just because of pent-up demand, but also due to the new merchandising direction of prints and bright colors."

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