Search

A formulation is presented to test if observable measurement market area boundary differences, around a specific point of distribution, contain statistical differences. Descriptive measures to establish size and overlap of two market areas are also presented. It can now be ensured the market area boundary differences are a result of actual differences. Employment of the descriptive measures and the statistical method for market area boundary differences enables testing of the market area difference components. The measurement methods allow assessment of market area differences for products, time factors, and other variables. The results encourage formulation of marketing strategies that recognize the pertinent market areas.

Anton Wilson and George Bauer marketed their high quality, rechargable video camera batteries to the camera manufacturers, and within a short time their batteries had become standard original equipment. Yet by 1981, Anton/Bauer saw its market begin to rapidly decline as buying budgets were cut by the recession. The company saw that it had to change its strategy, and decided that the battery replacement market was where they should be. But, they had to be careful not to alienate any of their customers, who were also in the replacement market. So, they began by asking permission to proceed with their plan. Once they had this permission they began to select a dealer network, and a detailed catalog. Their strategy seems to have worked, as 1983 sales increased by sixty-eight percent over 1982. The next challenges involve developing products, and anticipating market direction.

Market segmentation is an important tool for banks and for corporate business. Republic Bank identifies their customers by doing a segmentation study. The household is the target marketing unit. Retailing strategy parallels banking strategy. Franchising is an appealing technique for smaller organizations.

Michael Cowpland, who started Mitel Corporation in 1973, is now working with Bytec-Comterm in marketing the new Hyperion personal computer. The company sold 12,000 small computers in 1983 and sales of 44,000 are predicted for 1984. Its accommodation of IBM PC software is a sales advantage along with its attractive appearance and small size. There is an account of the development of the Hyperion and the key people in the organization. Bytec-Comterm has big plans for penetrating new markets.

This is the result of a survey to determine whether American firms deserve their reputation of blundering in international markets. There is a lengthy table showing blunders made by various American companies abroad. There are accounts of how some of the companies respond to questions about the blunders during the survey. The nature of those responses, and some lack of responses, make the results of the survey somewhat inconclusive. The blunders studied were generally the more publicized ones, the list being far from complete. It is believed that while numerous blunders have occurred, the media has magnified the problem.

The main topic of discussion at a panel conference sponsored by the Insurance Services Office (ISO) and the Insurance Information Institute is marketing property/casualty products. Even though a management consultant felt marketing practices are poor, most insurance executives disagreed stressing that marketing must be considered in conjunction with other insurance functions. Marketing and underwriting are tandem in importance to maintain a successful operation. A need for change is evident based on the type of marketplace but panel members feel the changes are not revolutionary but purely good business strategy.

Competition among exhibitors at trade shows has increased as a result of the economy. Wise use of marketing techniques determine the degree of trade show success. A market analysis is done to assess the needs of companies and determine possible new market areas. Guidelines for writing and distributing promotional material are included. Technical sessions are an important part of a trade show.