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.

• 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

• Making Appropriate Changes to Product, Placement, Promotion, and Pricing

  • Marketing teams must adjust their marketing mix strategies accordingly to adapt and succeed in a rapidly changing media environment.
  • Marketing teams must adjust their marketing mix strategies accordingly to adapt and succeed in a rapidly changing media environment .
  • The shift from a manufacturer-dominated market to a retailer-dominated, consumer-controlled market.
  • Each element of the marketing mix must coordinate with other elements in the marketing program to ensure maximum reach and impact.
  • It also includes sponsorship marketing, direct marketing, database marketing and public relations.

• The Growing Importance of Word of Mouth

  • Marketing has evolved to include more connectedness, due to the new characteristics brought in by the Internet.
  • Now it is seen more as a conversation between marketers and customers .
  • The starting point of the integrated marketing communications (IMC) process is the marketing mix that includes different types of marketing, advertising, and sales efforts.
  • Moreover, this new "word of mouth" form of marketing can bring benefits to a company; such as:
  • Social media sites that allow sharing have brought about a new word of mouth form of marketing.

• Measuring a Successful Segmentation

  • The key to consumer marketing breakthroughs is often successful and innovative market segmentation.
  • eHarmony established a new category within an online market that many considered to be dominated by two well-established Internet brands in Match.com and Yahoo, by establishing its brand as the site for the serious relationship seeker, particularly women.
  • The market segment must be stable enough that it does not vanish after some time
  • The market segment is able to leverage the appropriate marketing mix to respond to difference in preferences
  • eHarmony established a new category within an online market that many considered to be dominated by two well-established Internet brands in Match.com and Yahoo. eHarmony made its mark in the online dating landscape by establishing its brand as the site for the serious relationship seeker, particularly women.

• 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.

• Competitor-Based Pricing

  • The competitor-based pricing strategy is typically used by fringe firms, in an industry with one or two dominant companies.
  • Extensive marketing research and statistical analysis are not required.
  • For example, if a firm sets a market share objective when the market size is fixed or declining, then this immediately signals that this gain in market share will come at the loss of a competitor.
  • Focusing on market share does not necessarily lead to maximum profits.
  • Companies that employ competitor-based pricing can use computer programs such as this to analyze market share.

• Cultural Values

  • Examples of cultural barriers that marketers may face abroad are: (a) language: Language differences cause many problems for marketers in designing advertising campaigns and product labels.
  • Dominant cultural values are referred to as core values; they tend to affect and reflect the core character of a particular society.
  • Before entering a foreign market, a company must decide to what extent it is willing to customize its marketing efforts to accommodate each foreign market.
  • Marketers who intend to market their products overseas may be very sensitive to foreign cultures.
  • A definition for social marketing is provided by Alan Andreasen: "Social marketing is the adaptation of commercial marketing technologies to programs designed to influence the voluntary behavior of target audiences to improve their personal welfare and that of the society of which they are a part