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Basic Marketing: A Global−Managerial Approach Appendix

Tham khảo tài liệu 'basic marketing: a global−managerial approach appendix', kinh doanh - tiếp thị, tiếp thị - bán hàng phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Perreault-McCarthy Basic I Back Matter Marketing A Global-Managerial Approach 14 e Appendix A Economics Fundamentals The McGraw-Hill Companies 2002 Appendix A Economics Fundamentals When You Finish This Appendix You Should 1. Understand the law of diminishing demand. 2. Understand demand and supply curves and how they set the size of a market and its price level. 3. Know about elasticity of demand and supply. 4. Know why demand elasticity can be affected by availability of substitutes. 5. Know the different kinds of competitive situations and understand why they are important to marketing managers. 6. Recognize the important new terms shown in red . Perreault-McCarthy Basic I Back Matter Marketing A Global-Managerial Approach 14 e Appendix A Economics Fundamentals The McGraw-Hill Companies 2002 656 Appendix A A good marketing manager should be an expert on markets and the nature of competition in markets. The economist s traditional analysis of demand and supply is a useful tool for analyzing markets. In particular you should master the concepts of a demand curve and demand elasticity. A firm s demand curve shows how the target customers view the firm s Product really its whole marketing mix. And the interaction of demand and supply curves helps set the size of a market and the market price. The interaction of supply and demand also determines the nature of the competitive environment which has an important effect on strategy planning. These ideas are discussed more fully in the following sections. Products and Markets as Seen by Customers and Potential Customers Economists provide useful insights How potential customers not the firm see a firm s product marketing mix affects how much they are willing to pay for it where it should be made available and how eager they are for it if they want it at all. In other words their view has a very direct bearing on marketing strategy planning. Economists have been concerned with market behavior for years. Their analytical .