Marketing There Are a Number Term Paper

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Ford can learn about the auto industry's opportunities by analyzing the actions of Toyota. Another way is to analyze other lines of your company's business. For example, Nestle can examine its baby formula business in order to gain insights into its chocolate business.

A company can also analyze ongoing trends in order to learn about the macroenvironment. A company can study trends in the macroeconomic environment, because central governments in Western countries typically publish a wide range of economic data. For example, rising interest rates can signal the end of a housing boom, a threat to construction companies. Rising GDP, however, can be a good sign to retailers. Analyzing other trends can also hint at threats and opportunities. Demographic trends, for example, can be valuable. An aging population hints at opportunities for retirement homes or golf courses, while an increase in Spanish-speakers in the United States might provide opportunity for Spanish-language newspapers where none currently exist.

3) The most important factoring shaping the Internet age is the democratization of information. Take Wikipedia as an example -- people can learn whatever they want to learn, very quickly.

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This results in greater access to knowledge about all subjects than ever before. The advantage is that greater knowledge means more savvy customers, but the disadvantage is that some sources are poor, so there is increased need for information literacy.

Another important factor is the mobility of information and connectivity. Today, access to the world through communication is near constant, with PDAs, web-enabled cell phones, Wifi and other mobile connectivity. This means that there is a much lower information gap than in years past. A customer can check the web in your shop to check if your prices match up against those of your competitor down the street.

Lastly, the ease of use is a critical factor in the explosion of the Internet. Almost all consumers are now online. This means that the Internet is the one store that everybody can easily access, at all times. Companies like Amazon have become major retailers operating strictly….....

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