Marketing Environment and Adaption to the Changes

Abstract

As we know, the business world is one which is changing in a very dynamic way and coping up with such diverse changes may be somewhat an adverse challenge to many business firms.

There are many ways to cope up with the surrounding changes in the business world and one of these ways is by getting a clear understanding of the markets that surrounds the firm. A firm should work by understanding their stand in the market and by deciding their target market and potential buyers. A firm knows its potential buyers even before the product goes into production and thus moulds and plays with the tactics so that they may be more appealing to that particular group so as to reap the profits at the highest level possible.

The basic objective of this research paper is to get an understanding of how does the market work and how various changes can either make a firm or break a firm.