MIDTERM

• Target market identification involves selecting one or more market segments or groups of customers to target in your marketing mix.
• your marketing mix includes the five P's: product (what you're selling), price (how much you're charging), place (where you're selling), promotion (how you're communicating the product's benefits), and people (how you and team can give you a competitive edge).
• A market analysis is a quantitative and qualitative assessment of a market.
• In order to do that I recommend the following plan:

  1. Demographics and Segmentation
  2. Target Market
  3. Market Need
  4. Competition
  5. Barriers to Entry
  6. Regulation
• Lowering Cost As we have seen, information technology can alter a company’s costs in any part of the value chain.
• Enhancing Differentiation The impact of information technology on differentiation strategies is equally dramatic. As noted earlier, the role of a company and its product in the buyer’s value chain is the key determinant of differentiation
• Changing competitive Scope Information technology can alter the relationship between competitive scope and competitive advantage.
• Dow Jones, publisher of the Wall Street Journal, pioneered the page transmission technology that links its 17 U.S. printing plants to produce a truly national newspaper
• Dow Jones has started the Asian Wall Street Journal and the Wall Street Journal-European Edition and shares much of the editorial content while printing the papers in plants all over the world.
• Spawning New Business The information revolution is giving birth to completely new industries in three distinct ways.
• Competing in the Age of Information Senior executives can follow five steps to take advantage of opportunities that the information revolution has created