A market potential is an estimate of the maximum possible sales
opportunities for a commodity or group of commodities open to all sellers in
a particular market segment for a stated period under consideration
ο Before going to the stage of establishing market potential, commodity
grouping must be established in such a way that the individual
commodities concerned are uniform with respect to the demand
ο Since most products do not greatly differ from others, consumers
often resort to product substitution.
ο So in order to accurately arrive at a market potential for a product the
degree of product substitution and the conditions under which it takes
place have to be considered.
ο The decision as to include or exclude closely related substitutes would
have a significant effect over the market potential. E.g. Furniture β
wood, leather, steel feather light etc.
ο Several market potentials for a product can be arrived at by making
different assumptions.E.g.tooth paste.
Methods of calculating Market potentials:
Direct Data Method: In this method the data on the actual product for
which one wishes to estimate market potential is collected.
ο Collecting data about the sales for a particular product in the entire
market from the various retail outlets.
Advantages: These are the...
...1. Definition on TraditionalMarkets and Digital Markets 4
A. What is TraditionalMarkets? 5
B. What is Digital Markets? 5
2. Advantages of TraditionalMarkets 6
3. Disadvantages of TraditionalMarkets 7
4. Advantages of Digital Markets 8
5. Disadvantages of Digital Markets 9
Compare and contrast traditionalmarkets with digital markets
Definition of TraditionalMarkets and Digital MarketsTraditionalmarkets : Traditionalmarket is a physical market brings buyers and sellers together in the same location and a medium that allows buyers and sellers of a specific good or service to interact in order to make an exchange. It is a product-based and formal. This kind of market is traditionally operating, and countless such markets are still in operation around the whole world.
Digital markets : Digital market is a market that do not have a physical operation between the process of buying and selling otherwise using the non-physical markets ( internet or...
We divided the market segmentation criteria into 3 main groups:
-more than average disponible income
-less than average disponible income
- price conscious
- quality conscious
- image conscious
- ethical conscious
-non urban area
-little grocery stores
-others (like f.e. cinema, restaurantβ¦)
-responsible consumers attracted by organic food, fair trade value and social engagement
-strong / week
X,Y,Z or (0-3; 3-15; 15-35; older)
-two person household
-families with children
Disponible Income: The Food expenditures are dependant from the available household Income. Moreover mostly the Importance of the price is decreasing with an increasing household Income. Therefore people with a more than average disposal income should be attractive for premium ice sellers and super premium ice sellers with higher product prices. In contrast to the much higher prices of super premium ice cream, βLow-Costβ Ice Creams producers can attract - with often small margins and bigger volumes- People with an low disposable Income...
...Topic: Financial Markets
A financial market is a market in which people and entities can trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural goods.
There are both general markets (where many commodities are traded) and specialized markets (where only one commodity is traded). Markets work by placing many interested buyers and sellers, including households, firms, and government agencies, in one "place", thus making it easier for them to find each other. An economy which relies primarily on interactions between buyers and sellers to allocate resources is known as a market economy in contrast either to a command economy or to a non-market economy such as a gift economy.
In finance, financial markets facilitate:
β’ The raising of capital (in the capital markets)
β’ The transfer of risk (in the derivatives markets)
β’ Price discovery
β’ Global transactions with integration of financial markets
β’ The transfer of liquidity (in the money markets)
β’ International trade (in the currency markets)
Types of financial markets
Within the financial sector, the term...
...Using the auto industry as an example, demonstrate the concept of derived demand. How might derived demand affect the industry in the following product categories: a) steel, b) CD players, c)safety air bags, d) on-star roadside assistance service, and e) customized chrome wheels? What consumer trends would affect these products and their demand by the auto industry?
a) steel is not really affected by derived demand because its like one the major parts of a car. Every car companies would buy this product.
b) CD players are slightly affected by derived demand. Especially when there are significant differences in different players.
c) safety air bags would be in demand when there are increasing number of accidents on the road.
d) on-star roadside assistance greatly depends on the income of consumer.
e) customized chrome wheels are greatly influenced by derived demand. Consumers at around 25 years old would want these but as they grow old, they would prefer the simpler ones.
The derived demand of all these products would be affected if the demand for cars would also be affected.
2. Which of the major types of buying situation is represented by each of the following: a) Chrystlerβs purchase of computers that go into cars and adjust the engine performance to changing driving conditions b) Volkswagenβs...
Brand of male grooming products owned by βanglo β Dutch Comapny.
First launch in the year 1983 in france .
It has been there in market for last 26 years & it is currently best selling brand of unilever.
At that time it was leading mens deodorant in Europe and was popular in india in β grey market β.
In india it was launched in 1999
Hul had the brands denim and rexona and was ruling the market.
It was priced at the premium above the denim brand whch was positioned as a male deo brand
The axe effect promoted as the naughtiest brand in the Indian market covers male urban youth and mass urban product, urban people have income so they purchase it and they are know the western
Culture very well so they effort and use of deodorant so they are purchase this product
Capture the rural market the of india, marketing mix for different from urban But Every product and promotion which success in cities might not work in rural area because of values and perception of the people we must work on affordability Availability Awareness Acceptability, product for rural market must be built or modified to suit the lifestyle and of rural consumers, segmentation coverage of village with 8.000 and above population Distribution up to feeder markets /mandi towns direct contact with rural retails, price...
...The three level of Product theory is used in the process of creating every product. Is there any similarities and differences? Discuss.
In marketing, one of the challenges is how to create value of product in order to support the unique selling proposition. Before determining the perceived value in products, we need to know what product (Offer) is. Product is anything that can be offered to a market for attention, acquisition, use or consumption to satisfy needs and wants. There are three levels of product - core product, actual product and augmented product. In the following article, an IKEA TROMSΓ Loft bed frame with desk top and Monash Sport (Caulfield) Gym + Group Fitness Membership will be discussed and compared by using the framework of the three levels of product.
When developing products, marketers must pay attention to the most important level--core product, which is intangible but the ultimate benefit that the customer will receive when they purchase products. By the core product Gronroos(1990) means the basic reason for being in business. This indicates whenever marketers design products, they always need to consider the benefits that products can provide to the consumers. Secondly, the product planners need to design an actual product. The actual product is the physical product itself, aiming to provide solutions to consumersβ problems. Furthermore, augmented product is the intangible aspect of the product. The augmented product concept is...
...ο»ΏA market place is the place spread out in a specific area, where a variety of goods of daily requirements are available for purchase by customers. There are an umpteen number of markets all they catering to the daily requirements of the public, and they are placed close to residential areas for the convenience of the customers.
I had heard a lot about a market called Chandni Chowk in Old Delhi but had never seen it. Once this year, in the month of October, on the occasion of my sister's marriage, when my mother was going to Chandni Chowk for shopping I insisted that I would also like to accompany her. My mother and even my sister tried their best to dissuade me from going but, I insisted.
They even told me that there would be too much crowd and that a child of my size may get suffocated there. However, I heard none of their comments and pleas but insisted on accompanying them. We started on our journey from Vasant Kunj and even when we were just half way through, my patience gave way as, the distance was forbidding.
Nothing could be done in the matter now, and I had to keep quiet as, I had myself put the suggestion and locked a noose round my neck. After about one and a half hours on the road we finally reached the much talked of market - Chandni Chowk - the biggest and oldest market of Delhi.
What I saw in this market in the first place was a sea of men rushing up and down everywhere...