Got a tricky question? Receive an answer from students like you! Try us!

Market Audit and Competitive Market Analysis - Assignment Example

Only on StudentShare
Undergraduate
Assignment
Marketing
Pages 5 (1255 words)

Summary

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…

Extract of sample
Market Audit and Competitive Market Analysis

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. ...
Download paper
Not exactly what you need?

Related Essays

Market analysis/ Audit
The paper tells that in the 21st century, the aspects related to creating a market and business plan have dramatically changed. In order to penetrate the market, the company must attempt to find their market segment. The first market that is exploitable is the student body in universities. As a company, it is crucial that students are aware of this product because majority want the assurance of security. Another market that is feasible for the company to penetrate are the government officials who can derive the benefits of the product. Another market that the company is interested in are the…
11 pages (2761 words)
Fisher & Paykel Market Audit and Competitive Analysis
As concerned with the pricing strategy the company would follow competitive based pricing. The company has planned a corporate and strategic plan to reinforce actions and implement it for which it has set up a long term vision 2020. Fisher & Paykel would use the Data quality Objective to measure its environmental performance and track a record of the actions that needs to be done. Along with it the company would develop team membership to perform effectively. The company core interest is towards environment sustainability and thus focuses primarily on the behavioural audit of the management…
18 pages (4518 words)
Market analysis
The present study would analyze the case of Nintendo Corporation and analyze its elements of marketing mix. Nintendo is a Japanese game console manufacturing and marketing company that is engaged in the production of gaming consoles. The company was established in the year 1889 and since then has been credited with being one of the pioneers in the industry segment. Some of its innovations like Mario are still quite popular among the target market audience. The company presently has subsidiaries across many nations of the world including manufacturing units that help it to make it one of the…
4 pages (1004 words)
Red Bull: Market Analysis
Furthermore, with increasing expenses, severe competition, low profitability margins and increased labour cost, companies around the world are passing through a turbulent state (Casali, 2008; Tolentino, 2000; Accuval, 2010; Anderson, 2011). As a result of that organizations are trying to increase the loyalty of the consumers and are attempting to satisfy them by offering products or services that exactly matches with their requirements (Kamin, 2006). The pressure from internal and external environment has also been increasing at a rapid pace and that further raises challenges for the company.…
7 pages (1757 words)
Undertaking a Market Audit
The audit includes careful analysis of the company’s strategic business units as well as the internal procedures. MA is prognostic in nature and provides recommendations for improving the performance, process and increasing the organizational outcome of the company. It would provide formal mechanisms of the systematic examination of internal and external marketing activities of the organization. It requires the usage of various tools which includes control charts that indicate the existing marketing situation and the crisis. A MA is useful to measure the various marketing crisis and also…
8 pages (2008 words)
Preparing the marketing audit for market entry
It is true that Minute maid may face problems initially due to lack of brand awareness. But, effective brand value and strong customer base of Coca Cola can help Minute maid to attract the target customers. This report will recommend some valuable marketing and business operation strategies for the Coca Cola Company in order to implement them for the future growth of Minute maid in England. Introduction This report is a marketing audit including an in-detailed internal and external marketing environment analysis of an organization. The report will conduct a marketing audit for the Coca Cola…
8 pages (2008 words)
Preparing the marketing audit for market entry
Contents Executive Summary 2 Introduction 6 Main Findings 6 Product 7 Price 8 Place 8 Promotion 8 People 9 Processes 9 Physical evidence 9 McKinsey 7S of Sony Corporation 10 Strategy 10 Structure 10 Systems 11 Style 11 Staff 12 Skill 12 Shared Values 12 Value Chain Analysis of Sony Corporation 12 Firm Infrastructure 13 Human Resource 14 Technological Development 14 Procurement 14 Inbound Logistics 14 Operations 14 Outbound Logistics 15 Marketing and Sales 15 Service 15 SWOT analysis of Sony Corporation 15 Strengths 15 Weakness 15 Opportunities 16 Threats 16 CIM Model of Sony Corporation 16…
8 pages (2008 words)