Construction Economics Essay Example | Topics and Well Written Essays - 3000 words

Construction Economics - Essay Example Vegetables, for example is a homogeneous product while soap is not. Because the consumer will not care who supplies the product, there is tougher competition among suppliers. There is freedom of entry and exit. Firms can easily enter the market without impediments brought about by old timers and should they decide that the market is no longer attractive, they can leave without problems. Suppliers of trout, for example, will experience this type of freedom. Lastly, there is perfect information, i.e., no unknowns in the market. Price, supply and demand information is available to all players regardless of size and status. Stock trading of Gold for example, has the information readily available for all players to use in their trade. It maybe hard to find a market under perfect competition, despite the examples mentioned above. However, it definition is made for the purpose of differentiating other market structures present in the real world (Baumol and Blinder, 2009, p. 199). Economics as a subject tends to be viewed as neutral and objective, even emotionless when expressed in terms of humanity. However modern economists have taken the view that motives and emotions do play an intrinsic part in economy principles and decision. Emotions affect businesses. In his paper, Gopal asserts that there is a fifth element in which business can retain customers and their profitability apart from the four P’s of marketing – a better product, a lower price, an attractive promotion, or a more convenient location (placement)—the fifth being people (2004). All businesses have human customers at the end of the chain, who are needed to realize profits. Gallup research found out that 70% of customers’ decisions are based on positive interactions with the sales staff (cited in Gopal, 2004), thus the evidence of an emotionally-driven economy. Staveren shares the same view in his dissertation that

Starting a high-end female sports underwear brand in the uk market Essay

Starting a high-end female sports underwear brand in the uk market - Essay Example Competitive analysis reveals that the underwear market in the UK is highly competitive and overcrowded. It has an enormous extent, making it difficult to break it down to narrower segments. On this basis, the underwear market is regarded as too large for the high-end female sport underwear to handle. As such, the UK underwear market was eliminated from further exploration (Halasa 2008). The sportswear market is anticipated to grow in the coming years, reaching its peak in 2015 at 4.89 billion pounds (Morgan 2001). This growth has encouraged various non-sport retailers to widen their clothing lines, including clothing lines. The sportswear market is growing more quality conscious, and consumers have shown significant potential to pay for it. This has created an opportunity for the high-end female sports underwear in the region. Findings show that females aged between 21 and 24, both within active leisure and mainstream sport are the appropriate target group for the high-end female sports underwear in the UK. This group is an opportunity for the company, as it provides it with an opportunity to tailor its products, and offer wool underwear in line with sports underwear. Nike and Adidas are the major players in the market. As such, it is vital for the high-end female sports underwear start up to gain a strong position. By entering the market as an untraditional retailer, the company will build a strong brand and manage to enter the UK market successfully. An agent will be highly suitable, as this will offer the high-end female sport underwear company with sufficient information about the market. The company will specialize in the production and sale of high-end female sports underwear brands. With sufficient information regarding the market, strong brands for children, men and women, the company will contribute to growth as well as profitability for convenience goods. The high-end female sport underwear brand will serve as part of an