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Why is market segmentation an important variable in strategy implementation for strategies such as market development product development market penetration and diversification?
Wiki User
∙ 13y ago
it is particularly important for small businesses, which often lack the resources to target large aggregate markets or to maintain a wide range of differentiated products for varied markets.
Wiki User
∙ 13y 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 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
What is retail penetration?
Retail Penetration is the last stock fed in market but not yet sold.
Advantages of market penetration?
One advantage of market penetration is the fact that the business can realize more revenues. If done correctly, market penetration will help businesses expand.
What are the Advantages and disadvantages of market penetration?
An advantage to market penetration is the fact that a business will increase their revenues. A disadvantage is the fact that they are essentially remaining in a regional area.
Can you give some examples of intensive growth strategy in a company of their product?
market development, market penetration, product 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.
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".
The level of penetration of high demand not remote processing in computerization and telecommunication have indeed become measure of national economic development?
The level of penetration of high demand not remote processing in computerization and telecommunication have indeed become measure of national economic development?
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
The level of penetration of high demand not remote processing in computerization have indeed become measure of national economic development discuss the area of national develop?
The level of penetration of high demand not remote processing in computerization have indeed become measure of national economic development discuss the area of national develop?
What is the best computer for programming and hacking penetration testing software development?
What computer you have matters less than what software you install on it.
What is methodology of online banking?
Methodology of online banking is usually based on the internet penetration and the technological development in many countries.
The level of penetration of high demand not remote processing in computerization and telecommunication have indeed become measure of national economic development discuss the area of national develop?
The level of penetration of high demand of remote processing in computerization and telecommunication have indeed become measure of national economic development discuss the area of national develop?
What is the end product of a penetration test is the penetration of?
Penetration Test Report
Can a underwieght get pregnant without penetration?
For anyone to get pregnant there must be penetration, so if there is no penetration there will be no pregnancy.
What are the definitions of Internet penetration and broadband penetration?
Internet penetration is the number of people that have Internet in an area. Broadband penetration is the number of people who use broadband.
