Download BUSINESS NOTES ON BUSINESS MARKET STRUCTURE AND BUSINESS COMMUNICATION and more Assignments Marketing Business-to-business (B2B) in PDF only on Docsity!
BUSINESS NOTES ON BUSINESS MARKET
STRUCTURE AND BUSINESS COMMUNICATION
This is a comprehensive summary note focuses on the business
market structure and the different types of buyers and sellers
related to the sale of a given product or service and their
bargaining power. It presents the structure of the market and the
elements that determine the price and the amount that will end
up being trade. These notes presents the result of a short
investigative exercise exploring the microeconomic factors
affecting businesses in a business environment.
By reading these notes, it will help students to be able to
identify different market structures and how they work. In
addition, students will also learn about the various methods of
business communication and how to effectively use them. This
will allow them to better understand the needs of their customers
and clients, and ultimately help them to succeed in business.
Table of Contents
- Introduction................................................................................................................................
- Procedures..................................................................................................................................
- Findings......................................................................................................................................
- 3.1 Brief introduction to the organization.......................................................................................
- 3.2 The organization’s strategy statement for customer care..........................................................
- 3.3. Details of the system, standards, and staff standards...............................................................
- 3.4 Collection, storage, and usage of customer feedback...............................................................
- 3.5 An evaluation of the customer care strategy.............................................................................
- Conclusion..................................................................................................................................
- Recommendations......................................................................................................................
- References..................................................................................................................................
company (corporate theory, part of microeconomics or the theory of the market economy) deals with the decisions of private companies. Companies ask for the production factors labor (L) and capital (C) on the factor markets in order to use them in a specific combination in the technical production process and to offer the product quantity Q (output) produced in this way on the goods market. In the economics Theory of the market economy, a distinction is made between the short and the long term, the following distinguishing feature is essential for everything else: In the short term (at least) one production factor is fixed, i.e. it cannot be used variably in the production process. This factor causes fixed costs that are independent of the output. In the long term, both (all) production factors can be used variably! There are only variable, i.e. output-dependent costs Assuming that a firm wants to maximize its profit per period, it will use the factors of production economically and this is the prerequisite technically efficient. The following costs are involved in this theory; Average variable cost (AVC) Variable costs include external services that are directly related to the production volume. This gives the total variable cost per each unit output. Average fixed costs (AFC) Average fixed costs, are independent of the production volume and remain constant with changes. They are also part of the total costs and occur, for example, in the form of rental costs, employee wages or depreciation. Average total cost (ATC) The average total cost is the sum of all all production costs over the total output quantity. This is the sum of all variable and fixed costs, divided by the sum of units produced. The following diagram represents the three costs as used to explain the cost- quantity model of a firm;
3. Findings
The finding established various business communication models based on the characteristics gathered. Business communication can take the form of oral interaction through conversations and meetings, whether in person, online or over the phone (Veltsos, 2017). It can also be done through written documents such as emails, marketing materials, websites, social media posts, blogs, reports, and proposals. 3.1 Brief introduction to the organization The business examined in this report is Apple which exhibits the characteristics of a Monopoly. This is an American multinational company that specializes in consumer electronics (Green, 2015). The business is characterized because there are several buyers but only one seller who has greater bargaining power. Through targeted marketing communication strategies, Apple has managed to become known as an innovative company and as a global player in binding customers to the company. 3.2 The organization’s strategy statement for customer care Good communication helps you get more opportunities. We are going to examine how businesses can improve communication in any situation, as well as
analyzed and used to improve marketing strategies. Social media marketing is also used as a way of attracting and capturing the ideas of young people through such platforms as Facebook and Twitter. 3.5 An evaluation of the customer care strategy The customer care approach defines all relevant decisions for the target market and forms the starting point of strategic marketing. This customer care strategy is to be regarded as dynamic since the decision-making processes are subject to the classic phases of the company. To relate these questions to Apple Inc., the first question, which customer segment does Apple focus on, can be answered as follows. It is important to understand and be aware of your audience, the people with whom you communicate.
4. Conclusion
That structure of the market is made up of the elements that will determine the price and the amount that will end up being traded. In a market structure, business entities take different forms based on their characteristics. Every form of communication requires interacting with another person or group of people to convey a message. It helps to imagine communication as an exchange of messages between a sender and a receiver through a communication medium or channel. We all know the communication cycle where the key players in transmitting a message are the sender and the receiver, but many more aspects are involved.
5. Recommendations
As a recommendation, Apple should capitalize on its customer experience. Currently, their main marketing strategies lie in how Apple's products are presented to the consumer. Particular attention should be paid to the timing of the release of the products, their sales trends, and competitors.
