Analyze information about their competitors

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Marketing professionals use information systems to gather and analyze information about their competitors. They use this information to assess their product's position relative to the competition and make strategic marketing decisions about the product, its price, its distribution (place), and the best way to manage its promotion. Michael Boomberg, founder of Bloomberg and others have made their fortunes gathering and selling data about businesses. Marketing professionals find information about a business's industry, location, employees, products, technologies, revenues, and market share useful when planning marketing initiatives.

During your senior year, you will find yourself in close competition for jobs. You can take the same intelligence-gathering approach used by professional marketers when planning how to sell your own skills. Use the following questions to help you prepare for your job search:

a. Product: Which business majors are presently in greatest demand by employers? Use entry-level salaries as the primary indicator for demand.

b. Product: Which colleges or universities in your region pose the greatest competitive threat to students with your major?

c. Price: What is the average salary for entry-level employees in your major and geographic region? Is salary your top concern? Why or why not?

d. Place: Which areas of the country are currently experiencing the greatest employement growth?

Reference no: EM13172406

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