Economic conditions as well as lifestyle needs demand that consumers invest in their housing to ensure asset value growth and require adequate transportation and computer systems to facilitate effective and demanded lifestyle quality. Many of these industries do not require a strong market-oriented strategy, since the competitive environment does not mandate being ultra-sensitive to buyer needs (Walker & Mullins, 2011). Companies such as The Home Depot and Lowe’s offer rather standardized products that are in demand due to economic conditions and widespread consumer need for asset protection. In this oligopoly market structure where there are limited competitors, the business can avoid high costs associated with customer relationship management systems and other market-oriented models of doing business. The mid- and long-term factors of high performance are credit availability, limited competition in certain high-performing industries, pricing structures, and high consumer demand. No, it would be difficult to make the assumption that some industries are inherently more profitable than others. Some have operational models that consume a great deal of cash or credit that are not widely understood without examining annual reports or market studies on business strategy and growth. They may offer higher prices, however the cost of goods sold in these industries could be substantially higher than other competitors that have leaner models of production. There are many factors associated with promotions, brand positioning, or even expensive information technology and support that could erode profitability. Walker & Mullins (2011) identifies that market success requires examination of external trends that impact the industry long-term. Ineffective market research, either qualitative or quantitative, as well as a poorly-developed promotional strategy could greatly undercut profitability as compared to more efficient competitors at these activities. Automobile Manufacturing Performance Automobile manufacturer sales volumes are strongly influenced by consumer demand and also short-term economic conditions in key target markets in their desired segments. Morningstar (2012) identifies rather poor mid- to long-term performance at Nissan, but rather high performance at General Motors. Both of these companies offer mid-sized to larger-sized vehicles and operate in generally the same socio-economic market segments. Walker & Mullins (2011) identifies the importance of positioning, which is establishing a product that will emphasize consumer needs and help to differentiate the brand from other competition. General Motors conducts considerable market research on consumer attitudes, behaviors and needs which assists this business in gaining more customers. Psychographics is only one method of establishing connections with buyers. Nissan, on the other hand, might have less developed promotional and advertising strategies that do not stand out from competition. While GM would be positioned as a lifestyle-relevant product line, Nissan might be ineffective at successfully differentiating the product. Though this is only one factor, it does indicate why some companies perform better financially than others due to the importance of successful marketing strategy implementation and control. The automotive industry is also reliant on consumers that conduct a great deal of
RUNNING HEADER: Strategy and Marketing Strategy and Marketing BY YOU YOUR SCHOOL INFO HERE DATE HERE Strategy and Marketing Industry Sector Performance Industries that offer higher-priced goods and services seem to have the best performance, as they often sustain high volumes of credit purchases or sustain higher profit margins…
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