Epistemology is the nature of knowledge. Knowledge is important when considering what is reality and what is deception. The movie “The Matrix” displays a social deception in which Neo, the main character, is caught between what he thought was once reality and a whole new world that controls everything he thought was real. If I were Neo, I would not truly be able to know that I was in the matrix. However, it is rational to believe that I am in the matrix and will eventually enter back into my reality later. The proof that that I can know that I am in the matrix and that I will return to reality comes from the responses of foundationalism, idealism, and pallibalism.
This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P’s of marketing. The next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification. This strategy calls for companies to attain current or new businesses allowing them to “diversify” their offerings and break into new markets.
“Market penetration” is a relatively straightforward strategy, involving more sales of an existing product in an existing market. Existing customers need to be encouraged to buy more of the product or attract new customers. Businesses usually use different and effective promotional techniques or drop the prices to achieve this goal.
Will implement price penetration to gain the market share. Price penetration is where a business sets the price low with the goals of attracting customers and gaining market share. The price is raised once the market share is gained.
The current strategy of the company is to enter foreign markets and to succeed there. The corporate main strategy is to provide high quality product to its customers.
Huge profits will result from the company expanding its operations to India. The average sale of the company’s products will improve; it will hence be able to produce more products for the India market (Fratianni, 2006). Different tools can be used to analyze the expansion of this company in India.
Evaluate concepts and principles of strategic marketing and the application to the development of an appropriate marketing mix for Kathmandu.
Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in
The marketing strategy should be tailored around the firm's target market; if this were not the case marketing would be then less successful. Each aspect of the marketing mix would need to be formulated with the target market (consumer) in mind. For example the design of the product would need to be such that it would satisfy the consumer's needs. If it did not consumers would see no need to have it and buy a competitor's product. The price of
In 1997, Patanjali Ayurved Limited (PAL) started as a small pharmacy in Haridwar which has grown into a huge consumer sector conglomerate today and is poised to be further bigger. In fact, the rise of PAL is being so staggering and well entrenched in consumer psyche that large Indian and Foreign Research houses are considering this pretty much a Disruption Factor in the overall consumer sector. In Aug 2015 CLSA came out with a report titled “Wish you were listed, Patanjali Ayurved” and summarized the threat it presented to listed counterparts. Moreover, lately Credit Suisse, IIFL Research, MOSL, Nomura, etc., have over the last 2 months came with various reports stating