Answer to Question #185227 in Management for Shriyansh Gupta

Question

how globe study has helped managers to understand the market

Answer 1

Solution.

Market understanding is basically the process of analyzing competitions available, checking out growth opportunities and the audience base.Understanding the market ensures that the managers come up with adequate supporting corporate strategies .Globe study has helped managers in understanding the crucial concept.It has achieved that through providing guidelines to managers about audience definition. In defining the audience managers are guided on checking the audience needs before they provide them with the quality products they make.

Globe study also helps managers with the facts of growing their business through targeting multiple audiences.That helps managers understand the market.Lastly,managers are made to know the competition around them and in return know where they stand compared to the competition. All that helps them in understanding the market.