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What are different types of marketing strategy involved in marketing?
Wiki User
∙ 13y ago
- Market Expansion - This strategy looks to grow overall sales in one of two ways:
- Grow Sales with Existing Products - With this approach the marketer seeks to actively increase the overall sales of products the company currently markets. This can be accomplished by: 1) getting existing customers to buy more; 2) getting potential customers to buy (i.e., those who have yet to buy); or 3) selling current products in new markets.
- Grow Sales with New Products - With this approach the marketer seeks to achieve objectives through the introduction of new products. This can be accomplished by: 1) introducing updated versions or refinements to existing products; 2) introducing products that are extensions of current products; or 3) introducing new products not previously marketed.
- Market Share Growth - This strategy looks to increase the marketer's overall percentage or share of market. In many cases this can only be accomplished by taking sales away from competitors. Consequently, this strategy often relies on aggressive marketing tactics.
- Niche Market - This strategy looks to obtain a commanding position within a certain segment of the overall market. Usually the niche market is much smaller in terms of total customers and sales volume than the overall market. Ideally this strategy looks to have the product viewed as being different from companies targeting the larger market.
- Status Quo - This strategy looks to maintain the marketer's current position in the market, such as maintaining the same level of market share.
- Market Exit - This strategy looks to remove the product from the organization's product mix. This can be accomplished by: 1) selling the product to another organization, or 2) eliminating the product.
Wiki User
∙ 13y ago
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What are the marketing implications for different customer and product types in industrial marketing?
What are the marketing implications for different customer and product types in industrial marketing?
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Where is it possible to learn more about marketing classes?
Many different schools that offer marketing classes will have information on those classes. Depending on the school there will be different types of marketing classes, and some will be better than others.
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Imagine you are creating a marketing plan for a company that will sell motor scooters As you consider the marketing program.what types of strategy should you consider including in the plan?
You should think about the demographics that are needed. Also think about where to sell the product and for how much.
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Every types of marketing is the key factor and plays some good role to find success in any type of business and it is necessary thing and you should not underestimate the power or importance of marketing otherwise you throw out in this highly competitive market segment, that's for sure. It you use some effective marketing strategy of your business ( any types of business) then you win the half race.
