The marketing mix sporting goods and services,video production company salary,social media marketing jobs los angeles - Downloads 2016

The Sports Marketing concentration offers students a chance to develop their skills for a career in the $500 billion dollar global sports marketplace. The importance of having a degree from an accredited business school is huge in this industry. To be successful in the sports industry, experts universally agree that students must have more than just classroom training.
Working in conjunction with some of the top AACSB accredited business schools in the world, the Brock School of Business offers sports marketing students an unmatched variety of academic and internship programs in multiple countries.
A key part of the program is the chance to visit renowned events and venues during active periods. The Sports Marketing program at Samford University offers students a chance to develop their skills for a career in the $500 billion dollar global sports marketplace.
You will need Microsoft Excel® or compatible software like Open Office to read XLS, XLT, XLSX or XLTX files.
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You will need Adobe Acrobat Reader® or compatible software like SumatraPDF to read PDF files. The story of success started at the University of Oregon in the USA in 1962, where Bill Bowerman, a coach specialized on competitive sports, and one of his students, Phil Knight as a middle-distance runner, realized a risky idea about bringing low-priced, high-tech athletic shoes from Japan to the USA in order to sell them under their own brand.
After Phil Knight earned his MBA at Stanford University, he travelled to Japan, and succeeded in negotiating with executives from Onitsuka Tiger, a footwear manufacturer.
So far so good - but which strategy did the two sports and business men follow, so that they did not end up as simple footwear distributors? The most crucial consideration was to develop a tactical marketing based on the four components of the marketing mix. Apart from the product itself the place and availability played a decisive role in the story of NIKE’s success.
As far as the price is concerned, NIKE has much scope for setting the price for a special product.
And here arises the question of brand-caring, namely why do so many people buy an expensive pair of sneakers from NIKE if they can get one for half of the price from an unknown manufacturer?
Just one year later after defining NIKE’s corporate identity and design Knight and Bowerman made use of a special promotion tool to come out, namely the sales force. Four years after experimenting with a waffle iron Bowerman’s self-designed Waffle Trainers were introduced and became the best-selling training shoe in the U.S. NIKE was definitely growing which caused the two business men to invest more money into advertising.
Shortly after that, NIKE underlined its rebellious and powerful image by signing Tennis “bad boy” John McEnroe to an endorsement contract. In the early 80’s its first national television advertisement was shown during the New York Marathon.
The following years NIKE developed its tactic focussing on sales representatives into a successful strategy by signing popular sportsmen and women at the beginning of their career like the famous baseball and football player Bo Jackson, the Brazilian national soccer team, Tiger Woods and many others. Marketing usually involves an exchange between buyers and sellers or between other parties. Marketing has an impact on the firm, its suppliers, its customers, and others affected by the firma€™s choices. Marketing frequently involves enduring relationships between buyers, sellers, and other parties. The 4 Psa€”product, place (distribution), promotion, and pricea€”represent the variables that are within the control of the firm (at least in the medium to long run). Competition: Competitors often a€?creepa€? in and threaten to take away markets from firms.
Patents: It would be difficult to compete against Intel and AMD in the microprocessor market since both these firms have a number of patents that it is difficult to get around. People: Even with all of Microsofta€™s money available, it could not immediately hire the people needed to manufacture computer chips. Distribution: Stores have space for only a fraction of the products they are offered, so they must turn many away. An analysis is made, taking into consideration issues such as organizational resources, competitors, the competitorsa€™ strengths, different types of customers, changes in the market, or the impact of new technology.
Based on this analysis, a plan is made based on tradeoffs between the advantages and disadvantages of different options available. Occasionally, plans will be made at the functional level, to allow managers to specialize and to increase managerial accountability.
The Boston Consulting Group (BCG) matrix provides a firm an opportunity to assess how well its business units work together. A cash cow results when a firm has a large share in a market that is not growing, and may even be shrinking.
A SWOT (a€?Strengths, Opportunities, Weaknesses, and Threatsa€?) analysis is used to help the firm identify effective strategies.
Rather than merely listing strengths, weaknesses, opportunities, and threats, a SWOT analysis should suggest how the firm may use its strengths and opportunities to overcome weaknesses and threats. The plan must be specific enough so that it can be implemented and communicated to people in the firm.
Making it profitable for the tobacco industry to a€?harvest.a€? Many see the tobacco industry as the a€?enemya€? and may not want to do anything that can benefit the industry. An alternative approach to fundraising that does not currently appear to be much in use is the idea of a€?sponsoreda€? fundraising. One issue that comes up is the potential match between the sponsor and sponsee organization. Demographic variables essentially refer to personal statistics such as income, gender, education, location (rural vs. Technologically excellent firms, which produce the most advanced products currently available with the latest technology, constantly maintaining leadership in innovation. Note: The issues discussed below are covered in more detail at consumer behavior section of this site. The amount of effort a consumer puts into searching depends on a number of factors such as the market (how many competitors are there, and how great are differences between brands expected to be?), product characteristics (how important is this product?A  How complex is the product?A  How obvious are indications of quality?), consumer characteristics (how interested is a consumer, generally, in analyzing product characteristics and making the best possible deal?), and situational characteristics (as previously discussed). Here, the single parent who assumes responsibility for one or more children may not form a relationship with the other parent of the child. As a person gets older, he or she tends to advance in his or her career and tends to get greater income (exceptions: maternity leave, divorce, retirement). Unfortunately, obligations also tend to increase with time (at least until one’s mortgage has been paid off). Note that although a single person may have a lower income than a married couple, the single may be able to buy more discretionary items. Note that although a single person may have a lower income than a married couple, the single may be able to buy more discretionary items.
Family Decision Making: Individual members of families often serve different roles in decisions that ultimately draw on shared family resources. Note, however, that the role of the decision maker is separate from that of the purchaser. The important thing in a means-end chain is to start with an attribute, a concrete characteristic of the product, and then logically progress to a series of consequences (which tend to become progressively more abstract) that end with a value being satisfied. An important implication of means-end chains is that it is usually most effective in advertising to focus on higher level items. Market research is often needed to ensure that we produce what customers really want and not what we think they want.
Case Study: Vodafones Marketing Mix Product A product with many different features provides customers with opportunities to chat, play games, send and receive pictures, change ring tones, receive information about travel and sporting events, obtain billing information, view video clips and send video messages.
Case Study: Vodafones Marketing Mix Promotion Vodafone works with icons such as David Beckham to communicate its brand values. Types of Web Advertisement (1) 1) Banner Ads In the early stages of Internet, "advertising" on the Internet meant "banner ads" 2) Pop-up and Pop under Ads A pop-up ad is an ad that "pops up" in its own window when you go to a page.
Types of Web Advertisement (2) 3) Floating Ads These are ads that appear when you first go to a Web page, and they "float" or "fly" over the page for anywhere from five to 30 seconds. Types of Web Advertisement (3) 5) Streaming Sidebar Ads A small video ad appears in the right sidebar on this CNN page, with sound, and plays for 30 seconds. Learn how Netsertivea€™s technology can help you unleash your marketingand put you in the lead.
Marketing Is the planning and executing the conception, pricing, promotion and distribution of ideas, good, and services to create that satisfy individual and organizational objectives.
Example: Note – customers are more likely to make a purchase when they have more than one payment option. Bowl Games Rivalry Games Preseason Tournaments Championship Games How many sports channels do you have?
Building a successful team on the field is intricately tied to success in the front office and boardroom and without my business degree from the Brock School of Business, there's no way I'd be able to handle the important day-to-day activities critical to my organization.
Thus, at Samford University students are offered a variety of ways to gain experience and insight in the industry prior to graduation. Birmingham has been rated as one of the top 5 cities in the nation for sports enthusiast and is home to dozens of sports teams and companies. All sports marketing students also gain hands-on experience by spending a semester working for the Samford University Athletic Department.
Students enjoy the opportunity to travel with classmates and Brock School faculty to study sports business abroad. Recent trips included access to the Wimbledon Championships, London Summer Olympic Games, Manchester United Football Club, and Harlequins Rugby Union.
The goal was clear: dislodging German domination of the US athletic footwear industry and improving the athletes’ individual performance. As a result, Knight's company, Blue Ribbon Sports, became the distributor of Tiger brand footwear for the western United States. As the centre of their business was and still is the product itself, the two men had to collect information about their possible target market and the consumers’ special desires.
In 1965, Blue Ribbon Sports called Jeff Johnson, a former track rival of Knight's at Stanford University, the company's first full-time salesman selling shoes out of the back of his van to high school students at track meets.
In fact, the whole idea of NIKE was based on a strategy in which the production costs were low and the products’ prices competitive but profitable. The answer is hidden in the last component of the marketing-mix instrument – the promotion.
After the incorporation of Blue Ribbon Sports in 1967 and annual sales approaching $300,000, Phil Knight began to develop a new athletic footwear brand with the help of a graphic design student. They simply delivered the first NIKE products marked with the new brand to athletes competing in Eugene, Oregon for the US Olympic Track & Field trials. Moreover, the patented invention of NIKE's air technology lead to the creation of the Air Force 1 basketball shoe which made use of the new technology for the first time. Although Adidas' pricing is lower than Nike's it is still higher than companies such as Reebok and Under Armour and I would consider them exclusively priced.

The central idea behind marketing is the idea that a firm or other entity will create something of value to one or more customers who, in turn, are willing to pay enough (or contribute other forms of value) to make the venture worthwhile considering opportunity costs. For example, Japanese auto manufacturers became a serious threat to American car makers in the late 1970s and early 1980s.
Plans are needed to clarify what kinds of strategic objectives an organization would like to achieve and how this is to be done. A firm that does not have an established relationship with stores will be at a disadvantage in trying to introduce a new product. This could involve profitability directly, but often profitability is a long term goal that may require some intermediate steps. The firm may design new products, revamp its advertising strategy, invest in getting more stores to carry the product, or decide to focus on a new customer segment. For example, although Microsoft is best known for its operating systems and applications software, the firm also provides Internet access and makes video games.
Marketing, for example, may be charged with increasing awareness of Microsoft game consoles to 55% of the U.S. Here, a balance must be made so that the firma€™s scope is not defined too narrowly or too broadly. For example, Wal-Mart positions itself as providing value in retailing, while Nordstroma€™s defines itself more in terms of high levels of customer service.
The firma€™s position, then, is not as strong as it would have been had its market share been greater, but there is an opportunity to grow. This is generally a somewhat unattractive situation, although dogs can still be profitable in the short run. Plans that are unrealistic may result in poor use of resources or lowered morale within the firm. Businesses and people face some constraints on what can ethically be done to make money or to pursue other goals. Sustainability is a notion that proposes that socially responsible firms will somehow financially outperform other less responsible firms in the long run.
This is problematic both because of the inefficiency of the process and the loss of potential proceeds that result and because potential donors who learn about or suspect high fundraising expenses may be less likely to donor.
The idea here is that some firm might volunteer to send out fundraising appeals on behalf of the organization. This may or may not be a critical issue since respondents are selected for the solicitation based on their predicted interest in the organization. A These firms, because they work with costly technology that need constant refinement, cannot be as efficient as the operationally excellent firms and often cannot adapt their products as well to the needs of the individual customer.A  Intel is an example of this discipline.
The breakup of a non-marital relationship involving cohabitation is similarly considered equivalent to a divorce.
The reality is that few families are wealthy enough to avoid a strong tension between demands on the familya€™s resources. Consumers often buy products not because of their attributes per se but rather because of the ultimate benefits that these attributes provide, in turn leading to the satisfaction of ultimate values.
For example, in the flower example above, an individual giving the flowers to the significant other might better be portrayed than the flowers alone. Learning Objectives Product vrs Consumer based marketing Different market segments and how to approach them Consumer relationship. Some consumers purchase only on price Others judge quality High price = High quality Price also effects demand What about commissions to intermediaries? Advertising on TV, on billboards, in magazines and in other media outlets reaches large audiences and spreads the brand image and the message very effectively. The reader can control the ad with the three buttons (Play, Pause, Stop) underneath the ad. Distribution (Place) the locations and methods used to make products available to customers. The Brock School of Business holds several events throughout the year to educate students about the sports business industry. These trips offer cultural and intellectual excursions and take students behind the scenes of some of the most famous sporting organizations in the world to show them how successful sporting events on the field are intricately tied to success in the front office and boardroom. In 1964 samples of Tiger footwear were sent to Knight’s former coach Bowerman who suggested a partnership with him to provide endorsement clout as well as footwear design ideas.
This consumer-orientated market was and still is marked by constant communication between the ultimate buyer and the manufacturer. In 1966 Johnson opened the company's first retail outlet in a narrow building in Santa Monica, California.4 Today Nike owns facilities in Oregon, Tennessee, North Carolina and The Netherlands. Again, NIKE bet its former success on the sales force-tactic when Michael Jordan, the most famous basketball player at the time, was signed to an endorsement contract, too. Adidas does discount as well.You can buy Adidas products in many places such as Target,Walmart, Dicks Sporting Goods, Dunhams, and all othersporting goods stores. A very expensive producta€”relative to others in the categorya€”may, in fact, represent great value to a particular customer segment because the benefits received are seen as even greater than the sacrifice made (usually in terms of money).
Form utility involves the idea that the product is made available to the consumer in some form that is more useful than any commodities that are used to create it. Similarly, the Lotus Corporation, maker of one of the first commercially successful spreadsheets, soon faced competition from other software firms.
Consumers tend to put off buying a new car, going out to eat, or building new homes in bad times. For example, because consumer groups lobbied Congress, more stringent rules were made on the terms of car leases. Some firms are willing to take a greater risk, which may result in a very large payoff but also involve the risk of a large loss, than others.
The firm may seek to increase market share, achieve distribution in more outlets, have sales grow by a certain percentage, or have consumers evaluate the product more favorably. Even if results are satisfactory, the firm still needs to monitor the environment for changes. Different managers will have responsibilities for different areas, and goals may best be made by those closest to the business area being considered. For example, Hewlett-Packard has a small share of the digital camera market, but this is a very rapidly growing market.
On the other hand, stars generate some cash, but even more cash is needed to invest in the futurea€”for research and development, marketing campaigns, and building new manufacturing facilities. Microsoft, for example, has a great deal of technology, a huge staff of very talented engineers, a great deal of experience in designing software, a very large market share, a well respected brand name, and a great deal of cash.
For example, Microsoft could either decide to put more resources into MSN or to abandon this unit entirely.
Fraud and deception are not only morally wrong but also inhibit the efficient functioning of the economy. This might result from customer loyalty, better employee morale, or public policy favoring ethical conduct.
This is an especially critical issue now that information on fundraising overhead for different organizations is readily available on the Internet. For example, Microsoft might volunteer to send out letters asking people to donate to the American Red Cross. Microsofta€”directly or indirectly through the Bill and Melinda Gates Foundationa€”has been credited with a large number of charitable ventures and has the Congressional Black Caucus as one of its greatest supporters. In some cases, the non-custodial parent (usually the father) will not pay the required child support, and even if he or she does, that still may not leave the custodial parent and children as well off as they were during the marriage. For example, the wife says that her husband can take an expensive course in gourmet cooking if she can buy a new pickup truck.
Stores have special offers, promotions and point of sale posters to attract those inside the stores to buy. With faculty considered leaders in their field and out-of-classroom experiential learning opportunities, students can combine their passion for sports with professional training unmatched by any other AACSB business school in the South. Students have the opportunity to participate in live Q&A session with industry titans and participate in an international networking event with young sports business managers and students from all over the world. With a pledge of $500 each the two gave birth to Blue Ribbon Sports and built the foundations of NIKE. That is why they drove to high schools and universities talking with the athletes about their needs in order to create them prototypes and help them win. It operates leased facilities for 14 NIKE towns, over 200 NIKE Factory Stores, a dozen NIKE Women stores and over 100 sales and administrative offices.
Sure enough, it worked out: Jordan presented his own shoe the Air Jordan, which was banned by the NBA because of too much publicity. You can also get Adidas products online at their website, Eastbay and many other sports retailers.
Memorizing a definition is unlikely to be useful; ultimately, it makes more sense to thinking of ways to benefit from creating customer value in the most effective way, subject to ethical and other constraints that one may have.
Some segments have very unique and specific desires, and may value whata€”to some individualsa€”may seem a a€?lower qualitya€? itema€”very highly.
A customer buys a chair, for example, rather than the wood and other components used to create the chair. In contrast, in good times, firms serving those needs may have difficulty keeping up with demand.
Suppose, for example, that cumulative inflation between 1960 and 2007 has been 1,000%--that is, on the average, it costs ten times as much to buy the same thing in 2007 as it did 47 years earlier. The tobacco industry is currently the target of much negative attention from government and public interest groups.
It is also more practical to hold managers accountable for performance if the plan is being made at a more specific level.
For example, if Dell were to define itself only as a computer company, it might miss an opportunity to branch into PDAs or Internet service. Microsoft also has some weaknesses, however: The game console and MSN units are currently running at a loss, and MSN has been unable to achieve desired levels of growth. Microsoft has a great deal of cash ready to spend, so the option to put resources toward MSN is available. There are also behaviors that, even if they are not strictly illegal in a given jurisdiction, cannot be undertaken with a good conscience. Empirical results testing this hypothesis are mixed, neither suggesting that more responsible firms, on the average, have a clear financial advantage nor a large burden.
This may be a very cost effective method of promotion for the firm since the sponsor would benefit from both the positive publicity for its involvement and from the greater attention that would likely be given a fundraising appeal for a group of special interest than would be given to an ordinary advertisement or direct mail piece advertising the sponsor in a traditional way.
In many cases, firms might volunteer for this fundraising effort in large part because of the spear heading efforts of high level executives whose families are affected by autism.
On the other hand, in some cases, some non-custodial parents will be called on to pay a large part of their income in child support.
Alternatively, a child may promise to walk it every day if he or she can have a hippopotamus. For hours they sat in coaches' offices and locker rooms and talked about running, listening to reports about the races, the training, the injuries and what exactly runners wanted in a product. This shoe caused so much reaction on the market and of course in the media that it changed into a public relations tool by itself – a key moment for NIKE.

Adidas' headquarters is in Herzogenaurach, which is in Bavaria, Germany.Adidas' production sites are located in Germany(1), Sweden(1), Finland(1)USA(4), Canada(5), China(1), and Japan(1). The 2006 and 2007 definitions offered by the American Marketing Association are relatively similar, with the 2007 appearing a bit more concise. Thus, the customer benefits from the specialization that allows the manufacturer to more efficiently create a chair than the customer could do himself or herself. One important point to realize is that different industries are affected to different degrees by changes in the economy.
If the cumulative inflation between 1960 and 1984 had been 500%, we could talk about one 1984 dollar being worth fifty 1960 cents or two 2007 dollars. Currently, the desire to avoid aiding the enemy may result in laws that make it more difficult for American firms to export goods to other countries.
McDonalda€™s, for example, is currently being sued by people who claim that eating the chaina€™s hamburgers caused them to get fat. Many record stores have been wiped out of business by the trend toward downloading songs (or illegally a€?rippinga€? songs from friendsa€™ CDsa€”an act to which even the President of the United States has confessed). Microsoft keeps a great deal of cash on hand to be able to a€?jumpa€? on opportunities that come about. Thus, they might instead define themselves as a provider of a€?information solutions.a€? A company should not define itself too broadly, however, since this may result in loss of focus. For example, Brother could a€?harvesta€? its profits from typewriters and invest this in the unit making color laser printers, which will need the cash to grow. There are a number of areas where an individual must consider his or her conscience to decide if a venture is acceptable. Thus, a useful approach may be to determine (1) specific circumstances under which a firm may actually find the more responsible approach to be more profitable, (2) under which circumstances responsible behavior can be pursued without an overall significant downside, and (3) the ethical responsibilities that a firm faces when a more responsible approach may be more costly. A pharmacy chain, for example, might pay for charitable good to develop information about treating diabetes. This is particularly a problem when the non-custodial parent remarries and has additional children in the second (or subsequent marriages). Another strategy is reasoninga€”trying to get the other person(s) to accept onea€™s view through logical argumentation. People are on hand to ensure customers' needs are matched with the right product and to explain the different options available. Vodafone UK gives reward points for every ?1 spent on calls, text messages, picture messages and ring tones.
Vodafone actively develops good public relations by sending press releases to national newspapers and magazines to explain new products and ideas. On others, the banner ad is expanded-size initially, then shrinks to normal size after several seconds.
This individual consumer-caressing culminated in the 70’s with Bowerman experimenting with rubber spikes by pouring a liquid rubber compound into his wife's waffle iron, which led to the creation of the successful and patented “waffle” sole.5 So the communication with athletes changed into a key role regarding NIKE's product design and marketing strategy.
Adidas works with more than1,070 independent factories from around the world who manufacturetheir products in 67 countriesAdidas promotes its company in many ways, including advertisements, sponsoring professional athletes and professional sports teams, they also have televison commercials.
Place utility refers to the idea that a product made available to the customer at a preferred location is worth more than one at the place of manufacture. It is important to recognize that competition can happen at different a€?levels.a€? At the brand level, two firms compete in providing a very similar product or service. Although families can cut down on the quality of the food they buya€”going with lower priced brands, for examplea€”there are limits to the savings that can be made without greatly affecting the living standard of the family. Many industries have a strong economic interest in policies that benefit the industry may have a negative impact on the nation as a whole but enhance profits for the industry. Firms are significantly limited in what they can do by various lawsa€”some laws, for example, require that disclosures be made to consumers on the effective interest rates they pay on products bought on installment. Today, there are more a€?blendeda€? families that result as parents remarry after divorce. Each is run by different managers, although there is some overlap in technology between the two. For example, a manufacturer of baking soda should probably not see itself as a manufacturer of all types of chemicals. If a firm has cash cows that generate a lot of cash, this may be used to try to improve the market share of a question mark. Microsoft, for example, may have the opportunity to take advantage of its brand name to enter into the hardware market. The firm can earn political good will by engaging in charitable acts, which it has money available to fund.
Some a€?paycheck advancea€? loan operators charge very high interest rates on small loans made in anticipation of a consumera€™s next paycheck.
The chain could then make this information on its web site, paying for bandwidth and other hosting expenses that may be considerably less than the value of the positive publicity received. Even today, the company still depends on this interaction and feedback from athletes of all levels.
Adidas also promotes itself through personal selling by having workers answer questions and explain products in their many stores around the world. It is much more convenient for the customer to be able to buy food items in a supermarket in his or her neighborhood than it is to pick up these from the farmer.
Coca Cola and Pepsi, for example, compete for the cola drink market, and United and American Airlines compete for the passenger air transportation market.
On the other hand, it is often much easier to put off the purchase of a new car for a year or hold off on remodeling the family home. Some goods and servicesa€”such as health care and college tuitiona€”are currently increasing in cost much higher than the average rate of inflation.
For example, regulations that limit the amount of sugar that can be imported into the United States is estimated to cost each American approximately $10.00 a year.
These families are often strapped for money but may require a€?duplicatea€? items for children at each parenta€™s residence. This means that they may have to forego what would have been a good investment because they do not have the cash to invest and cannot find a way to raise the capital. A firm that has a number of promising stars in its portfolio may be in serious trouble if it does not have any cash cows to support it.
Because of the individuality of their sneakers, NIKE products always changed so that an increasing product range was developed. Time utility involves the idea of having the product made available when needed by the customer. Firms also face less directa€”but frequently very seriousa€”competition at the product level.
If need be, firms can keep the current computersa€”even though they are getting a bit slowa€”when sales are down.
The total increase in profits to the sugar industry is difficult to estimate because many of the large producers of refined sugar are privately held corporations, but it is likely that the net gain to the industry is as much as the roughly $3 billion lost by Americans a whole. For example, 3M sees itself as being in the business of making products whose surfaces are bonded together. If it is about to run out of casha€”regardless of how profitable it isa€” is becomes vulnerable as a takeover target from a firm that has the cash to continue running it. It can forego temporary profits by reducing prices temporarily to increase demand, or can a€?hold outa€? by maintaining current prices while not selling as many units. They sellathletic shoes, casual shoes, Apparel, sports equipment,and have begun to sell body fragrances. The customer may buy a turkey a few days before Thanksgiving without having to plan to have it available. The marketing concept, in contrast, focuses on getting consumers what they seek, regardless of whether this entails coming up with entirely new products. That is, two years later, the computer has not only declined in price by 20%, but it may also be 30% better (based on an index of speed and other performance factors). Because fewer new computers are bough during a recession, fewer operating systems and software packages. Adidas also bought outReebok(who sells the same types of products) in 2005 for 3.8 billion dollars. Intermediaries take care of the logistics to have the turkeysa€”which are easily perishable and bulky to store in a freezera€”available when customers demand them. Products or services can serve as substitutes for each other even though they are very different in form.
In that case, then, there has actually been, over the period, a net deflation of 38.5% for the category. Although some consider this practice unconscionable, others assert that such loans may be the only way that a family can obtain cash to fill an immediate need.
Possession utility involves the idea that the consumer can go to one store and obtain a large assortment of goods from different manufacturers during one shopping occasion. Teleconferencing facilities, for example, are very different from airline passenger transportation, but both can a€?bring togethera€? people for a a€?meeting.a€? At the budget level, different products or services provide very different benefits, but buyers have to make choices as to what they will buy when they cannot afforda€”or are unwilling to spend ona€”both. In turn, the industry can join forces with other agricultural interests which each support each othera€™s programs. Because of costs of administration are high, these costs, when spread over a small amount, will amount to a large percentage. Supermarkets combine food and other household items from a number of different suppliers in one place. For example, a family may decide between buying a new car or a high definition television set. Currently, the economy fluctuates between increasing strength, stagnation, or slight decline.
Further, because the customer groups in question tend to have poor credit ratings with high anticipated rates of default, rates must be high enough to cover this.
Certain a€?superstoresa€? such as the European hypermarkets and the Wal-Mart a€?super centersa€? combine even more items into one setting. The family may also have to choose between going on a foreign vacation or remodeling its kitchen. Car makers, for example, have seen declining profit margins (and even losses) as they have had to cut prices and offer low interest rates on financing. The firm has the cash flow either to remodel its offices or install a more energy efficient climate control system; or the firm can choose either to invest in new product development or in a promotional campaign to increase awareness of its brand among consumers.
Generally, in good economic times, there is a great deal of demand, but this introduces a fear of possible inflation.
This makes businesses less willing to invest, and as a result, people tend to make less money. This may result in a a€?bad circle,a€? with more people losing their jobs due to lowered demands. Some businesses, however, may take this opportunity to invest in growth now that things can be bought more cheaply.

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