Milestone 3: Competition and Five Forces Model Analysis
Industry Rivalry
A review of the industry confirms that the marketing sector is characterized by relatively elevated levels of competition. In effect, it is critical for the management team to develop marketing information systems during decision making in order to make top-notch decisions on a periodic basis thereby facilitating the agency to realize a competitive edge (Lientz, 2011).
Barriers to Entry
The marketing sector has minimal barriers to entry. In effect, the players in the sector appreciate that the prevailing degree of competition in the sector is likely to continue rising both in the short term as well as long run (Lientz, 2011). Due to this facet, I will lead the encourage …show more content…
Consequently, I will lead the organization into developing a marketing information system that captures the personal data about the customer such as gender, age, level of income, and location amongst others. The application of this approach gears towards enabling the Colei & Adam Marketing Agency to acquire the latest information about the customers. The acquisition of such information will assist the agency to curb the general threat of substitutes given that the entity will develop products that are in line with the specific preferences and tastes of their target market thereby improving the overall degree of switching costs. Most importantly, the reports generated by the marketing information system will assist the organization to differentiate its products theirs by enhancing their appeal. (Lientz, 2011). The application of that strategy is likely to ensure that the organization manages to stay ahead of the …show more content…
Indeed, it is essential to appreciate that the population constituted of some of the marketers who work for top-tier companies such as Facebook, Coca-Cola, Ford Motors, and Rolls Royce amongst others. The population was formulated in such a manner because such individuals tend to have in-depth information about the factors which their managers pay special attention to when they are choosing marketing firms (Kelkar, 2011). In effect, the standard of data provided by the respondents will facilitate the research to draw logical and reasonable conclusions about the dynamics of the relationship between marketing firms and commercial
Industry Rivalry
A review of the industry confirms that the marketing sector is characterized by relatively elevated levels of competition. In effect, it is critical for the management team to develop marketing information systems during decision making in order to make top-notch decisions on a periodic basis thereby facilitating the agency to realize a competitive edge (Lientz, 2011).
Barriers to Entry
The marketing sector has minimal barriers to entry. In effect, the players in the sector appreciate that the prevailing degree of competition in the sector is likely to continue rising both in the short term as well as long run (Lientz, 2011). Due to this facet, I will lead the encourage …show more content…
Consequently, I will lead the organization into developing a marketing information system that captures the personal data about the customer such as gender, age, level of income, and location amongst others. The application of this approach gears towards enabling the Colei & Adam Marketing Agency to acquire the latest information about the customers. The acquisition of such information will assist the agency to curb the general threat of substitutes given that the entity will develop products that are in line with the specific preferences and tastes of their target market thereby improving the overall degree of switching costs. Most importantly, the reports generated by the marketing information system will assist the organization to differentiate its products theirs by enhancing their appeal. (Lientz, 2011). The application of that strategy is likely to ensure that the organization manages to stay ahead of the …show more content…
Indeed, it is essential to appreciate that the population constituted of some of the marketers who work for top-tier companies such as Facebook, Coca-Cola, Ford Motors, and Rolls Royce amongst others. The population was formulated in such a manner because such individuals tend to have in-depth information about the factors which their managers pay special attention to when they are choosing marketing firms (Kelkar, 2011). In effect, the standard of data provided by the respondents will facilitate the research to draw logical and reasonable conclusions about the dynamics of the relationship between marketing firms and commercial