Bancfirst Research Paper Example | Topics and Well Written Essays - 500 words - 1

Bancfirst - Research Paper Example Marketing intermediaries dictated by intermediaries who help close business sales are another micro-environmental factor. Yet another environment is the macro-environment, which is uncontrollable. The business must adapt to these factors, including social, economic, political, legal environment and, in addition, technical environment. Bancfirst is most likely to be affected by factors that influence their client base, such as competition and prospects of growth. Additionally, macro-environment factors, such as the economic environment and legal environment will affect the operations of first bank on a day-to-day basis (Tracy, 12). If there is an increase in consumer income, the demand for the house will go up, and as such, the demand curve shifts to the right. Increase in income thus shifts the demand curve right. Another cause for a demand curve shifting to the right is changes in preference, with the recent high price houses coming with increased comfort and security, making consumers buy more of these sorts of houses. The demand curve for houses has shifted to the right. Finally, the demand curve may be shifted by changes in expectations. If clients expect to have a job for a long time, coupled with increased income, then demand for products will increase and, as a result, the demand curve shifts to the right. The demand curve shifting to the right on houses caused the equilibrium price for houses to rise (Tracy 11). The supply curve for Bancfirst was affected by various factors. Changes in the supply curve occur when product supply is affected by other factors other than its price. Increased technology caused the supply curve to shift to the right, while the number of clients wanting to buy houses caused the supply curve to shift to the right. The price of substitute investments also fell, causing the supply curve to shift to the right. The increase in supply caused the supply curve to shift to the right, thus causing