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Marketing, competition and the customer (The Role of Marketing (Doing all…

- - - - Easier to get products from one part of the world to another part of the world
    - - Easy to buy from overseas markets
      - Increased customer information about products
- - - - Sales to these markets are very large
      - Firm can benefit from economies of scale
      - Risks can be spread
      - If one variety of the products fails then the other products may still sell well
      - Oppurtunities for growth of the business due to large potential sales.
    - - High levels of competition
      - High costs of advertising
      - May not meet the specific needs of all customers or potential customers.
  - - - Small firms selling in niche markets may avoid competition from the larger businesses
      - Needs of consumers can be focused
    - - Limited number of sales
      - Specialize in just one product, which means the business has not spread its risks, making it very risky.