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Market Audit and Competitive Market Analysis - Assignment Example
Author : roselyn68
Pages 5 (1255 words)
REVISED WITHOUT IN-TEXT AS CUSTOMER REQUESTED Section C: Market Audit and Competitive Market Analysis I. The product 1. Relative advantage In international marketing and especially in market audit and competitive market analysis, the need to weigh the relative advantage of a company’s product to a new market is very important as the marketing audit is a fundamental part of the marketing planning process…
The relative advantages for these products are that they have a wider usage coverage including schools, offices, hospitals, media houses, factories and of course homes. 2. Comparability Comparability is the capability of existing or performing in harmonious or congenial combination in terms of international marketing, it can be explained to means a situation where different companies employ similar or related business standard such as accounting, measure concepts and measures of closure. As a new force entering Japan and Tokyo for that matter, kikk.k would have comparability with existing companies who ply their trade in similar products such as stationery and plastics. As a new force, it will be important for kikk.k not to deviate from existing business norms as deviating is likely to cause hostility to existing customers who ma not be up to speed with their new norms. 3. Complexity In marketing and in business venturing, complexity can be explained with relation to customer’s willingness to adapt to the policies and marketing strategies of new companies at the expense of existing ones. To this effect, the degree of difficulty which a purchaser of a new product has in understanding the product, a major determinant of the rate of new product adoption. ...