Hotel Continental

Market development is when a company is using an existing product but is marketing it in a new market such as other countries. This increases popularity for the service and the company.

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.

It also states in the textbook strategic marketing problems it defines market development strategy as a strategy where an organization introduces its existing offerings to markets its not currently

Diversification is when a business introduces a new product to a new market. It is one of the great ways to seek the profit by introducing new products and hoping to sell. Diversification is part of the four main growth strategies defined by the Product/Market Ansoff matrix.

Marketing development is the act of increasing the total market served by a company by finding new customers and markets, or providing new products to existing customers and markets. An example of this for Nike is their sports clothes and trainers are always developing and coming out with new ideas.

Marketing penetration, the decision to target current customers of a product or service (Dhar, Russ Winer and R., 2013). One of the main reasons why the first step to applying market penetration is important, it captures a sizable market and market growth, improve the amount of potential revenue growth and to know how well I am doing in the business. I will target new or competitor’s customers and my own customers. One of the things I find to work is to have location where it is convenient, so customers can have easy access. Too, making coupons available and percentage off is a great perk for customers who care to save a little extra. I also feel that any business can throw around words but a dedicated business person with a proactive attitude will do well. I would flood the market with my offers and products. I would also have on my website how my products are different from my

New Markets not only refer to different geographical (such as country, city, state, region, etc.) but also demographical (Sex, Age, Group, etc.). Same as the Market Penetration strategy that company does not launch new products and services. Also, company does not modify and enhance the existing products and services. Instead, this strategy is used to develop new markets by existing products and services. For example, computers company whose target customers are the corporate customers. But they would like to expand the target markets to consumers market for family or personal use. Also, a theme park offers 50% off promotion for customers’ age over 50 in order to expand the market segments to this age group. In addition, Europe stores or brands support online buying and waive the international delivery charges can also help to expand the market outside of

Hampton Inn should not use the same competitive strategy that Motel 6 uses. Hampton Inn uses the low-cost differentiation strategy, which means that they advertise and offer additional services and higher quality rooms whose features are unique from what is offered from their competitors (Parnell, n.d.). Hampton Inn offers a variety of spacious rooms and suites with luxury, along with additional conveniences such as a complimentary breakfast, outdoor/indoor swimming pools, and conference rooms.

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

Rosewood Hotels & Resorts (Rosewood), known for managing distinctive luxury hotels is considering a new brand strategy. Rosewood’s concept for each property has always been “Sense of Place”, emphasizing the individual character of each

This strategy however has its own risks because the technology may be copied by others and imitated.

Development of the market, it is recommended as the Ansoff the company's goal is to provide existing products to new markets. The market development goal should be to attract new customer segments, using a slightly different strategy to become the consumer's existing product (Ansoff, 1984).

In the marketing world, before releasing a product onto the market a company would carry out research in all spectrums to investigate the targeted audience. Once market research is completed, marketing or advertising is carried out so that the targeted consumers can purchase and the company receives an earned profit from sales. Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably (Chartered Institute of Marketing, 2009). Marketing strategies need to tick off consumer needs and demand. Companies follow a set of marketing strategies to be able to achieve their set mission goals. Strategies like segmentation, targeting and positioning of the market is used to analyse the

For an existing company product development is the strategy that most companies employ as no company will last long if their products are not constantly developed. The product development strategy has a huge contribution most especially in the fashion market, because fashion changes form season to season, product development of these companies is continuous and constant and must always be updated. According to Strategic Assets retail companies usually takes this route because the product lines are constantly changed to keep up with the changing tastes of the consumers.

Product – Product can be defined as the goods or services which is made to fulfil customer’s demands and needs. While making the product company should take care about its quality and features must be according to the customer’s needs to satisfy them.