With today's technology and the ability to quickly identify target groups through various avenues with market data from purchases, social media, browsing history, etc., do you think a company that fails to do this would have any chance with gaining competitive advantage? Explain.

Q: What new information technologies are changing the ways that marketers keep track of business trends…

A: Customer is a person or an entity which takes part in the economic exchange with the business. He…

Q: What criteria should a lawn equipment company use in assessing the attractiveness of market…

A: The lawn equipment companies generally refer to the companies that provide products of the…

Q: Summarize at least three factors that make one industry / firm more likely to out source than…

A: The three reasons that may make one firm/industry bound to outsource than another are

Q: Imagine that you want to start your own business. For your business (e) Develop a brief marketing…

A: (e) Marketing strategy:1. Identify the target audience: Conduct market research to identify the…

Q: Why marketers study their environment? Choose one successful company and discuss what factors and…

A: Please find the answer below.   MARKETING ENVIRONMENT: A marketing environment is made up of all the…

Q: In order for a market to exist, the following five criteria must be met; and if these criteria…

A: Market is a structure where transaction occurs between buyers and sellers for ascertainment of their…

Q: What are the four types of competition? Which is mostimportant to marketers?

A: The business endeavor to compete with the rivals in order to get maximum advantage and edge over the…

Q: Being first to market can be an advantage and a disadvantage. Provide at least one reason for each

A: Being front typically permits a corporation to build a strong brand perception and customer…

Q: Is marketing information as important to small firms as it is to larger firms? Explain.

A: Every business wants to maximize its profits. This can only be achieved through awareness,…

Q: Think Critically Is there a difference between sports, entertainment, and shopping? Has the line…

A: Marketing is the method of knowledge creation and communication of brand message to customers. The…

Product and Service Classification

Classification of goods and services categorized between industry and customer goods is known as Product and Service classification. It is based on brands, quality, and quantity which companies deliver to the concerned client. Industrial goods are produced for industrial work, whereas consumer goods are produced for personal consumption by the customers. Marketing and sales need technological methods, a healthy environment, proper market strategies, marketing environment in terms of productivity and profit.