Livestock Economics, Marketing and Business Management

Marketing opportunities

MERKETING OPPORTUNITIES

• Companies must look internally for strength and weakness and externally to the environment for opportunities and threats. Most opportunities and threats evolves from
  • Changes in the demographic, economic, political, legal and cultural environment.
  • Change in the competitive environment, such as a technological break through by a computer.
  • Events that may or may not be under the company's control such as strike by the work force or a serious fire in an industrial plant.
    • New market opportunities are determined by discovering customer groups with unmet needs.
    • The new market opportunities arise for a variety of reasons in industrialized societies. One is geographical mobility.
    • People live where they did not live before and thus create new markets.
    • The aggressive business firms recognize these new markets and builds new super markets, new discount houses etc.
    • Another source of new market is social mobility.
    • As people become more educated and acquire more sophisticated social environment their interest change frequently resulting in markets for new products.
    • Yet another cause of new market is psychic mobility, when people change the conception of themselves and their environment along with physical and social mobility.