Modern methods of horology .pdf9/11/2023 ![]() With the growth of computer, a new trend has emerged in the collection of market information Our Company uses interactive sites on the internet to gather customer’s views and opinion, before taking important business decisions. This is necessary to identify the needs of the customer and take various decisions for the successful marketing of the products and services. One of the important functions of a market is to gather and analyse market information. GATHERING AND ANALYSING MARKET INFORMATION: There may be a shift in buyers needs and tastes.There may be a change in the policies of Government and the introduction of a new regulatory requirement.Threat from companies making sales through e-commerce.There may be a change in the policies of the foreign Government.With every opportunity, there also goes along certain threats which may adversely affect the profitability and competitive capability of an enterprise. Opportunities may take the form of profit opportunities in the market. To use the latest technologies in the business.To create an additional share in the market by snatching it from rivals.Opportunities are entirely concerning the business environment. Labour problems resulting in strikes and lockouts.Some of the weaknesses in our business are: A company should make analysis and find out its minus points. It is something which restricts us to move forward. Weakness refers to something which one lacks. Strong Research and Development Department.The strong points of an organisation are called as strengths. Strength is defined as something which is positive, good that give to the company an edge in the competitive market. Rapidly changing technology have a great impact on business. Social Factors:Īlso known as socio-cultural factors, are the areas that involve the shared belief and attitudes of the population. It’s all about the way people spend their incomes. Factors include economic factor, interest rates, inflation etc. Economic Factors:Įconomic factors have a significant impact on how our organisation does business and also how profitable they are. We have to adjust our marketing policy accordingly. policy, foreign trade policy, tax policy, labour law, etc. These are all about how and what degree a government intervenes in the economy. If an organisation like ours trades globally this becomes a very tricky area to get right as each country has its own set of rules & regulations. The result of which is used to identify threats and weakness which is used in a SWOT Analysis. In other words, marketing management refers to planning, organising, directing and control of the activities which facilitates the exchange of goods and services between producers and consumers or users of products and services.Ī PESTEL analysis is a framework or tool used by marketers to analyse and monitor the macro-environmental (external marketing environment) factor that has an impact on an organisation. Marketing management means management of marketing functions. ![]() ![]() GATHERING AND ANALYSING MARKET INFORMATION:."synopsis" may belong to another edition of this title. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Īs a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. This work is in the public domain in the United States of America, and possibly other nations. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work was reproduced from the original artifact, and remains as true to the original work as possible. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.
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