1 Revision Notes – Competitive Markets and How They Work What is a ‘Competitive Market’? • In the previous chapter‚ the market economy was one of the three main types of economic system • The market economy tries to resolve the economic problem via demand and supply‚ through the price mechanism • But how do markets work? And how does it allocate scarce resources in relation to our infinite wants • There are many examples of markets‚ but each has the same basic characteristics:
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Rural markets From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search Rural Markets are defined as those segments of overall market of any economy‚ which are distinct from the other types of markets like stock market‚ commodity markets or Labor economics. Rural Markets constitute an important segment of overall economy‚ for example‚ in the USA‚ out of about 3000 countries‚ around 2000 counties are rural‚ that is‚ non-urbanized‚ with population of 55 million. Typically‚ a rural
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According to wikipedia‚ a market may be of a variety of different systems‚ institutions‚ procedures‚ social relations and infrastructures whereby persons trade and goods and services are exchanged‚ forming part of the economy. The basic concept of market is any structure that allows the exchange of goods‚ services and information. In market there are the buyers and the sellers. Markets vary. There are financial markets‚ prediction markets‚ and so on. Market can be seen in two ways: as a study of
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Chapter 9 THE MARKETING PLAN AND THE 8 P’S (Where We Would Like to Be?) Marketing Plan is defined as written plan that is used to guide an organization’s marketing activities for a period of two years or less. It is quite detailed and specific‚ and it helps an organization coordinate the many steps and people that play a role in marketing. * Marketing plan is also called as tactical plans or short-term plans. * Strategic plan or a long-term plan is a three-year or more that is more general
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Market penetration From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search Market penetration is one of the four growth strategies of the Product-Market Growth Matrix as defined by Ansoff. Market penetration occurs when a company penetrates a market in which current or similar products already exist. The best way[citation needed] to achieve this is by gaining competitors’ customers (part of their market share). Other ways include attracting non-users of your product or convincing current
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The Indian money market is "a market for short-term and Long term funds with maturity ranging from overnight to one year and includes financial instruments that are deemed to be close substitutes of money."[1] It is diversified and has evolved through many stages‚ from the conventional platform of treasury bills and call money to commercial paper‚ certificates of deposit‚ repos‚ FRAs and IRS more recently. The Indian money market consists of diverse sub-markets‚ each dealing in a particular type
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retail area also has a very high threat of getting over stored where they will be lots of retail stores and no one will be able to make profit . Therefore in order to survive for a long time in a saturated market it is very necessary for the existing retailers to capture their share of the market and retain it. They need to focus on the following factors Increase Customer Value: In an environment of fierce competition where there will be lot of price slashing to attract customers it is very necessary
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Oligopoly Oligopoly is a market structure in which a small number of sellers are opposed to a lot of buyers‚ ie the situation when the market several vendors and each may affect the rates. The emergence of new vendors is difficult or even impossible e. If the producers are two‚ then a duopoly called oligopoly. Goods traded in oligopolistic firms can be differentiated and standardized. Sellers in an oligopolistic market know that when they or their opponents will change the price or sales volume
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marketing concept is from production orientation to sales orientation‚ continuously it becomes market orientation and societal market orientation (Pride et al. 2007). So‚ the purpose of this essay is to discuss what market orientation is and whether market orientation is sufficient for business success in the business world. This essay has divided into three parts‚ which are introduction‚ body and conclusion. Market orientation is “an organisationwide commitment to researching and responding to customer
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framework in India has sparked growth and key structural reforms have improved the asset quality and profitability of banks. Growing integration of economies and the markets around the world is making global banking a reality. Widespread use of internet banking has widened frontiers of global banking‚ and it is now possible to market financial products and services on a global basis. In the coming years globalization would spread further on account of the likely opening up of financial services under
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