Henkel Loctite is a global producer of high-quality industrial adhesives and sealants. In our case study Eugene Robinson is a national sales manager of Henkel Loctite for Australia is aiming to sale gasket 5910 into the Melbourne car manufacture is facing customer complain for oil leaking cause by existing gasket. As an automotive product seller they needs to known about their market structure and their product demand. The knowledge of market structure and demand are very important for any business especially where buyer and seller are both organization so call business to business. I will illustrate market structure and demand for automotive industry.
Market is a physical place where buyer and seller both gather to exchange their goods and services. Structure is a hole of the market positioning. In every products market has a specific market structure. But it's depends on products, consumers, competitors, suppliers. Means it's a bunch of individual things.
Difference organization sells difference goods and services under different market condition, that's why it is quite important to understand of the element of market structure to achieve competitive benefits and position. Three basic elements of market structure are:
Product: According to Kotler's "Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need" (p.333). Our product is new gasket 5910 for car manufacturer is enable to satisfy current oil leaking problem which caused by existing rubber compound designed gasket. Our product liquid gasket called Loctite 5910 has many features of the product which delivered benefits superior to the traditional gasket is resistant with oil and temperature cycling. Its features also provide economic benefit by reduction inventory costs.
Another dependent part of marketing structure is Supplier: It is very important part in the...