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Do it through a joint venture with the firm of some complementary product
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∙ 15y ago
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What are some typical business strategies?
For merchandising businesses, when a business wants to enter an existing market with a new product, the appropriate strategy is called "product development", and when there is an existing product, the strategy is called "market penetration". When a business wants to create a new market with a new product, the strategy is called "diversification", and when a company wants to introduce an existing product onto a new market, the strategy is called "market development".
What is meant by market-led product-led new product development?
what is meant by product led and market led new product developmrnt approaches?
Why should use Ansoff's matrix?
To identify marketing strategies in relation to Product, and the risk associated with carrying out this strategies. Do i sell more in existing market ? Do i enter new market ? Do i sell new product ? - either in Existing market or New markets . Do i diversify ? Ansoff's matrix helps to give a clearer picture to the questions above.
What is advantages and dis advantages of meger?
Advantages -Increase production skills.. -technology transfer. -reduce competition -increase quality of product -Enter to new market. (if different market.)
What to do before opening new product in a market?
Before a launch a new product or expand into a new market, you need market research to inform you about your markets' expectations.
How do you develop a new product in the market?
If you have a product no-one else has - market research will identify whether the product is likely to be successful.
An example of a new market with an new product?
Gormey cola develop a new product like as Sparko and bon vinant and new market are outside the lahore city
How would you analyze a new product market and Cisco's potential financial return?
to analyze new product market is to test first the new product before you discuss to the costumer so that if they encounter problem you can teach them easily....
Why the need for marketing after production there is the need to market your product after production to be able to create the necessary awareness of the product now on the market for sale?
there is the the need to market your product after production in other to create the necessary awareness of the product now on the market and to keep inform both new and existing customers of the product.
What is market situation analysis?
A market situation analysis is used to analyse the current market or industry in which you would like to launch a new product. It identifies major competitors within that market, therefore allowing you to plan the launch of your new product accordinly.
What is Marketing mix for existing product in new market?
the pricing
What is the product market expansion grid?
Ansoff's Product-Market Expansion Grid Ian Ansoff has proposed a useful framework called the product/market expansion grid for detecting new intensive growth opportunities. There are four strategies, one for each of the quadrants: Market Penetration StrategyWhen the product is in the current market, it can still grow. There are three major approaches to increasing current product's market share:1. Encourage current customers to buy more.2. Attract competitor's customers.3. Convince non-users to use the product. Market-Development StrategyWhen the current product is launched in a new market, there are three approaches to develop the market:1. Expand distribution channels.2. Sell in new locations.3. Identify the potential users. Product-Development StrategyWhen a new product is launched in the current market, the intensive growth strategies could be to:1. Develop new features.2. Develop different quality levels.3. Improve the technology. DiversificationWhen a new product is launched in a new market, diversification makes good sense as better opportunities are found outside the present business. The diversification strategies are of three types:1. Concentric Diversification Strategy: Develop new products with the earlier technology for new segments2. Conglomerate Diversification Strategy: Develop new products for new markets.3. Horizontal Diversification Strategy: Develop new products with new technology for old customers. OLD PRODUCTS NEW PRODUCTS OLD MARKETS Market Penetration Product Development NEW MARKETS Market Development Diversification
