marketing module 1
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marketing module 1
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Free Flashcard From marketing module 1
Question:
hen developing a strategy to expand markets, marketers can take one of four approaches:
Answer:
1) market penetration ‐ the firm will focus resources on establishing a strong presence in the current market by attacking competitors head‐on and establishing dominance.2) market development ‐ the firm will look for new customers who could gain customer value from the product3) product development ‐ the firm investigates and sometimes enhances product attributes to find alternatives that will appeal to customers.4) diversification ‐ the firm explores developing new products for a totally new market.