US Economic Transformation: Prosperity, Depression, and Policy
U.S. Economic Expansion and the Roaring Twenties
The U.S. expansion was based on a profound transformation of production dominated by technical innovation. This led to decreased costs, increased production, and higher profits. It was at this time that the use of the telephone, automobile, and household appliances became popularized. Since these devices were expensive, the concept of installment sales was first applied. This created a wave of consumerism, as people could buy products without needing
Read MoreChoosing the Right Legal Form for Your Business Entity
Key Factors in Choosing a Legal Business Form
The choice of legal form depends on several critical factors:
- Distribution of Power: This relates to the degree of involvement desired in the management and administration of the company.
- Type of Financing: Whether capital will be provided solely by one person or by multiple sources.
- Equity Risk (Liability): The level of responsibility the founders are willing to assume regarding their personal assets against company debts.
- Fiscal Cost (Taxation): Different
Global Product Strategy: Standardization, Adaptation, and Intellectual Property Protection
International Product Strategy and Management
Core Product Elements and Market Alternatives
Product Elements
- Installation, delivery, warranty, and after-sales service
- Packaging, features, styling, quality, and brand name
- Core benefit or service
Product Alternatives in International Markets
- Selling the product as is in the international marketplace
- Modifying the product for specific countries
- Designing new products for foreign markets
- Creating a global product
Standardization Versus Adaptation
Standardization:
Read MoreIndia’s Five-Year Plans: Economic Growth & Development
Objectives of Five-Year Plans
a. Growth or Increase in GDP
Apple Marketing Strategy: Interdependence, Influences, and Global Tactics
The Role of Marketing at Apple
Interdependence with Key Business Functions
Marketing and Operations Interdependence
- Marketing plans aim to increase **demand** for Apple’s products, influencing operations activities.
- For example, discontinuing the unsuccessful iPhone 5 model and launching the 5c and 5s required Foxconn factories to implement new process layouts, order new components, and establish new quality control systems.
- Market research helps forecast sales for new models, which is used by operations
Core Marketing Concepts and Strategic Analysis
What Is Marketing?
Marketing is a social and managerial process through which individuals and organizations obtain what they need and want by creating and exchanging products and value with others. It focuses on identifying and satisfying customer needs.
The History of Marketing
The Production Era
Demand exceeded supply, leading to minimal competition and monopolies.
The Sales Era
Supply exceeded demand, which gave rise to competition.
The Marketing Era
Supply greatly exceeded demand, making customer-focused
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