Course: Capstone: Business Strategies Week 5 Assignment Target company: IBM Review the economics of demand.Apply the determinants of demand to product(s) of your company.Apply elasticity of dema
Briefly review the market model that you believe best fits your firm, and then describe at least three implications of that market model for the firm you are studying and how their marketing effects the topic.
Good morning, Professor and Class:
A few large firms, including IBM, dominate the tech industry as an oligopoly; this characteristic manifests in a high degree of market concentration. IBM's position within this landscape is notably shaped by key players such as Microsoft, Google, Amazon, and Oracle. The market experiences the considerable influence and control of these companies, which exhibit the key features of an oligopoly. IBM's marketing strategies bear the following three implications due to their operation within an oligopolistic market model:
Interdependence and Competition: One major firm's actions in an oligopoly significantly influence the others, necessitating IBM to maintain constant awareness of its competitors' strategies and conduct. The imperative to distinguish themselves from the competition profoundly influences their marketing efforts. They might emphasize their unique selling propositions, technological innovations, and strategic partnerships in their marketing campaigns to maintain or enhance their market position.
Product Differentiation and Innovation: Oligopolistic firms frequently invest in substantial research and development investments to pursue a competitive edge. In the case of IBM, its marketing strategies involve featuring not only its technological advancements but also innovative solutions; it emphasizes the vast range of services. Within this fiercely contested market space where attracting and retaining customers is paramount to success, IBM's efforts aim to underscore the uniqueness and value inherent within each product or service they offer.
Non-Price Competition and Branding: An oligopoly may not primarily focus on price competition, as this could trigger price wars; instead, firms engage in non-price competition: marketing, advertising, and branding. IBM heavily invests in marketing campaigns emphasizing trustworthiness, reliability, and expertise to construct an enduring brand image. They emphasize the quality and reliability of their products and services to build and maintain customer loyalty. Their extensive history in the tech industry and unrivaled expertise are integral to how they underscore customer value through their marketing strategies.
References:
Ipek, I. (2021). The relevance of international marketing strategy to emerging-market exporting firms: from a systematic review towards a conceptual framework. International Marketing Review, 38(2), 205-248.
Varadarajan, R. (2020). Customer information resources advantage, marketing strategy and business performance: A market resources based view. Industrial Marketing Management, 89, 89-97.
Discussion and evaluation of the fourth week:
Please write in your own words, you are using generalizations that sound automated and do not express your voide or own analysis. For example, you make a statement, cite the statement, but the statement does not match the source. You need to read your sources and write what is in the source.
Share your opinion, perspective, ideas, recommendations in your discussions. Be more specific.
Your initial post did not have any in-text citations and you did not demonstrate using the source.
