The market (dynamic)

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A dynamic market is one which is subject to rapid or continuous change. Key sources of change include:

  • Social trends.
  • Changes in technology.
  • Impact of new competitors.
  • Consumer tastes.

Businesses must adapt their marketing in response to these changes. A business that fails to keep up with trends in the market will soon lose competitiveness. 

Examples of highly dynamic markets

1. Film industry - Disrupted by online streaming, e.g. Netflix.

2. Taxi services - Disrupted by mobile apps, e.g. Uber.

3. Camera market - Disrupted by sophisticated smartphones, e.g. iPhone.

Online retailing:

The process of buying and selling goods and services over

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