market dominance

Examples of market dominance in the following topics:

• Information Search

  • An example of a marketer dominated personal sources is in-store advice.
  • External research is conducted when a person has no prior knowledge about a product, which then leads them to seek information from personal sources (e.g. word of mouth from friends/family ) and/or public sources (e.g. online forums, consumer reports) or marketer dominated sources (e.g. sales persons, advertising) especially when a person's previous experience is limited or deemed inefficient.
  • Examples of personal sources that are marketer dominated, include sales person advice in a retail store.
  • Personal sources that are not marketer dominated include advice from friends and family.
  • Television advertising and company websites are examples of non-personal sources that are marketer dominated

• Calculating Market Share

  • Apple and Samsung are currently the market leaders in the smartphone market and are currently competing fiercely all over the world for dominance and to be seen as the market leader.
  • There are several ways of calculating market dominance.
  • However, market share is not a perfect proxy of market dominance.
  • Although there is no set relationship between dominance and market share, the following are general criteria: A company, brand, product, or service that has a combined market share exceeding 60% most probably has market power and market dominance.
  • A market share of over 35% but less than 60% is an indicator of market strength but not necessarily dominance.

• Few Sellers

  • An oligopoly - a market dominated by a few sellers - is often able to maintain market power through increasing returns to scale.
  • In an oligopoly market structure, a few large firms dominate the market, and each firm recognizes that every time it takes an action it will provoke a response among the other firms.
  • This interdependence is unique to the oligopoly market structure; in perfect and monopolistic competition, we assume that each firm is small enough that the rest of the market will ignore its actions.
  • The existence of oligopoly requires that a few firms are able to gain significant market power, preventing other, smaller competitors from entering the market.
  • Cell phone companies have increasing returns to scale, which leads to a market dominated by only a few firms.

• Price Transparency

  • Since bonds are traded in a decentralized, over-the-counter market dominated by dealers, there can be a lack of price transparency.
  • Bond markets, unlike stock or share markets, sometimes do not have a centralized exchange or trading system.
  • In such a market, market liquidity is provided by dealers and other market participants committing risk capital to trading activity.
  • Bond markets can also differ from stock markets in that, in some markets, investors sometimes do not pay brokerage commissions to dealers with whom they buy or sell bonds.
  • In summary, since bonds are traded in a decentralized, over-the-counter market dominated by dealers, there is a lack of price transparency for bond markets.

• Promotion Strategies

  • These elements are personal selling, advertising, sales promotion, direct marketing, and publicity.
  • Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives.
  • In this scheme, firms are classified based on their market share or dominance of an industry.
  • Typically there are four types of market dominance strategies:
  • By navigating this metrics continuum, from Activity-Based to Predictive, marketers can move towards more effective marketing measurement and align measurement and metrics with business outcomes.

• Introduction to Integrated Marketing Communications

  • Prior to the emergence of integrated marketing communications during the 1990s, mass communications—the practice of relaying information to large segments of the population through television, radio, and other media—dominated marketing.
  • Marketing was a one-way feed.
  • Now, marketing is viewed more as a two-way conversation between marketers and consumers.
  • the move from a manufacturer-dominated market to a retailer-dominated, consumer-controlled market
  • the growing use of data-based marketing as opposed to general-focus advertising and marketing

• Modern Trends in Marketing

  • Modern trends in marketing include relationship marketing, business or industrial marketing, and societal marketing.
  • Modern trends in marketing include relationship marketing, business or industrial marketing, and societal marketing .
  • Relationship marketing was first developed through direct response marketing campaigns emphasizing customer retention and satisfaction, rather than a dominant focus on sales transactions.
  • Also known as industrial marketing, business marketing is at times called business-to-business marketing, or B2B marketing.
  • Modern trends in marketing include relationship marketing, industrial marketing, and societal marketing.

• Holistic Marketing

  • The holistic marketing concept looks at marketing as a complex activity and acknowledges that everything matters in marketing.
  • The holistic marketing concept looks at marketing as a complex activity and acknowledges that everything matters in marketing.
  • The four components that characterize holistic marketing are relationship marketing, internal marketing, integrated marketing, and socially responsive marketing.
  • Relationship marketing was first developed from direct response marketing campaigns.
  • It is a form of marketing that emphasizes customer retention and satisfaction rather than a dominant focus on sales transactions.

• The Relationship Between Product and Promotion

  • Product and promotion in global marketing can work together effectively with proper market research and communication techniques.
  • With the rapidly emerging force of globalization, the distinction between marketing within an organization's home country and marketing within external markets is disappearing very quickly.
  • These changes also have prompted brands to customize their global marketing mix for different markets, based on local languages, needs, wants, and values.
  • The "Four P's" of marketing—product, price, placement, and promotion—are all affected as a company moves through the different phases to become and maintain dominance as a global company.
  • Coca-Cola is one strong example of global marketing.

• Global marketing: assessing potential markets overseas

  • Global marketing: assessing potential markets overseas Case: Toyota has a vehicle for every market
  • One of the inevitable questions that surfaces concerning global marketing is: how does global marketing truly differ from domestic marketing, if at all?
  • A standardized marketing model utilizes the same functions in all markets.
  • Conversely, a customized marketing strategy adheres to the needs and wants of a particular target market.
  • Companies like Toyota and Coca-Cola have created a dominant brand across the world with their global branding and positioning strategies, and as a result have sustained tremendous financial benefits from doing so.