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What are the pros and cons of the product diversification strategy that Zippo has been following recently?
Wiki User
∙ 11y ago
They have a good brand name
Wiki User
∙ 11y ago
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Can you give some examples of intensive growth strategy in a company of their product?
market development, market penetration, product development, diversification
What has the author Brune Hake written?
Brune Hake has written: 'New-product strategy' -- subject(s): Diversification in industry, New products
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 product diversification?
The process of expanding business opportunities through additional market potential of an existing product. Diversification may be achieved by entering into additional markets and/or pricing strategies.
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
How do you build grand strategy matrix?
Do a SWOT analysisFor each of the line items in your analysis, give them a weighting as to their importance (ie some threats are going to be deal breakers, others, while real, you don't really need to worry about to much)Draw a bow and split it evenly into quarters. On the Y axis you will have your weakness (W) and strengths (S) in the X axis your opportunities and threats. Average your W & S and draw a line along the Y axis, and do the same for the O & T and draw this line on the X axis. The quadrant where the intersections occurs will give you some clues as to the type of strategy which will be appropriate.Quadrant 1: (Many internal Strengths, Many external Opportunities) - Calls for an aggressive strategy. could use market development, market penetration, product development, forward integration, backward integration, horizontal integration and conglomerate diversification.Quadrant 2: (Many internal Strengths, Grave external Threats) - Calls for a diversification strategy. could use market development, market penetration, product development, horizontal integration, divestiture and liquidation.Quadrant 3: (Critical internal Weakness, Grave external Threats) - Calls for a defensive strategy. Strategies include retrenchment, concentric diversification, horizontal diversification, conglomerate diversification, divestiture and liquidation.Quadrant 4: (Critical internal Weakness, Many external Opportunities) - Calls for a turn around style strategy. strategies may include concentric diversification, horizontal diversification, conglomerate diversification and joint ventures.
Differentiate between product strategy and promotional strategy?
They can mean the same thing. Or Product Strategy is focused on the product and what objectives its meant to achieve for the user/consumer Promotional Strategy is focused on correctly Branding and promoting the product to the Target Markets.
What are some examples of unrelated diversification?
moving from what you were offering to a total new product, for example,if you were manufacturing clothes and then you move to food industries is a good example of unrelated diversification.
Examples of unrelated diversification?
Unrelated diversification means moving from what you were offering to a total new product. This is like if you were offering clothes through a cloth industry, then moving onto the food industry.
What is a Pull Strategy?
The pull strategy is a strategy geared at increasing the popularity of a product. It is a strategy that relies on product promotion. The promotion involves heavy advertising and trade promoting to increase demand for product via retail, wholesale, and consumer channels.
What is the difference between product diversification and product differentiation?
Product diversification means that you will have several different types of products for sale, such as selling school supplies as well as toiletries. I think product differentiation means that you will have several different types of the same product available, such as the same baseball hat in several colors or with different team logos. Here's how about.com defines "product differentiation"--"Developing unique product differences with the intent to influence demand".
What is the marketing strategy of the product?
The original marketing strategy of Olay products was unique as it did not say what he product really did but focused on the secret of looking younger with the product. The marketing strategy is aimed at helping women look younger and beautiful.
