Marketing Opportunities For Business Growth

Better Essays
2. Based on your answers above, you should rank each of the marketing opportunities that you have identified from most viable to least viable and in terms of the contribution of each opportunity to business growth. You should provide reasons for your rankings.

Marketing opportunities Ranking Reasons for rankings
Marketing opportunity 1: Joint ventures viable Joint ventures means that each party taking part in forming it would contribute their respective share to the new ventures, be that financial resources or management expertise. These pooled resources are usually correlated with high performance and good profitability. In addition, a joint venture is often formed under a clear goal, such as exploring a new market in another country.
…show more content…
There are tons of professional website developers out there that can satisfy every need of even the most demanding requirement and the cost of doing so is not that high. The second is that by tapping into the online market, the company using this technology can reach a greater audience, which would eventually lead to a higher profit. The third fact is that with every other similar business also rushing into this market, the one who do not would be set at a great disadvantage since it will lose its market share quickly.
Marketing opportunity 3: strategic alliances Least viable A strategic partnership is considered the least viable option for three reasons after taking consideration of all relevant facts and analysis. The first reason is that it is extremely hard to find a suitable partner to form a strategic alliance. It does not only have to be reasonable, rational and love cooperation; it also has to be in a position where a mutual benefit can be found existence. The second reason is that sometimes even after forming the strategic partnership, the parties involved do not feel that secure since they might still worry their counterpart would turn on their back is the payoff is lucrative. The third is that the process it takes to form a strategic alliance is often long and complicated. It involved many back and forth negotiation to maximize each party’s interest and the legal issue can be complicated as well. In fact, in some countries, a secret alliance between
Get Access