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Market penetration: This involves the sale of a product line of more than exist in the current markets. Be persuaded to retain agreement as possible for customers to use more to attract new customers all together and this is usually viable only when the market is growing. Moreover Tesco could increase its sales to existing markets, for example, the premium products that currently sell in all Tesco’s.

With ________ as a target market strategy, the firm concentrates on serving many needs of a particular customer group.

After identifying the sales targets, the strategies, tactics and actions to achieve them can be worked on. Gluck (2014), mentions that to identify underlying strategies and increase sales, a business can break into a new market segment by adapting an existing product or boosting the average sale per customer by using add-on sales or upselling premium features. When developing the sales strategies, the market segment, customers' motivations and expectations, and the capacity to meet customers' expectations should be considered.

They include: Increasing the particular core enterprise, increasing by sub-segmenting buyers and also increasing nearby opportunities. It is strongly recommended that the chief leaders start the procedure by considering the progress likely from the found core enterprise and/or the particular opportunities and also progress likely connected with creating revolutionary price propositions at under functioned buyer organizations.

This type of strategy is usually followed by the company when they enter into ne market to gain the market share where they find it more potential.

“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.

As corporations and businesses evolve, they must adapt to the changing landscape of societal, environmental, and corporate-success needs. To achieve such responsibility, Verizon Communications Inc. has, and continues to, meticulously plant its feet into the web of the triple-bottom line. While maintaining their credo which is “a blueprint that directs us to live up to the highest standards when serving our customers, shareowners, communities, and each other”, Verizon aligns their overall goal to “design, build, and operate global networks, information systems and mobile technologies that connect people, grow businesses and economies, and improve communities” (Verizon.com). The

While completely different from the typical cell service provider’s business model, Giffgaff’s idea of a cell service company being run by its members is brilliant. Not only are its members allowed to have input on all aspects of the business, there is a program for them to receive compensation for their participation. The creators of the commercial capitalized on the zombie television and movie craze and are appealing to an audience that may be resistant to the new idea of a member owned cell service provider. The visual of blood drenched, flesh rotting zombies assisting the living instead of eating them reinforces the idea that although something new and different may be daunting at first but it may also be beneficial.

This strategy guarantees that the company does not loose out on the venture by covering their fundamental costs of operation. This allows them to keep the price low enough to entice consumers while simultaneously hedging themselves from the risk of losing money on each item sold. This is basis for a market penetration strategy.

During the next stage, maturity, there is intense rivalry for a mature market. Efforts may be limited to attracting a new population, leading to a proliferation of sizes, colors, attachments, and other product variants. Battling to retain the company’s share, each marketer steps up persuasive advertising, opens new channels of distribution, and grants price concessions. Unless new competitors are obstructed by patents or other barriers, entry is easy. Thus, maturity is a period when sales growth slows down and profits peak and then start to decline. Strategy in the maturity stage comprises the following steps: (a) search for new markets and new and varied uses for the product, (b) improvement of product quality through changes in features and style, and (c) new marketing mix perspectives. For the leader firm, Step c may mean introducing an innovative product, fortifying the market through multibrand strategy, or engaging in a price-promotion war against the weaker members of the industry; the nonleader may seek a differential advantage, finding a niche in the market through either product or promotional variables.

New York headquartered company, Verizon Wireless is one of the world’s largest telecommunication companies today. They use their worldwide network to bring interactive entertainment, the Internet, and digital media to the fingertips of its customers. Verizon makes it possible for people all over the world to stay in touch and businesses to connect better with consumers by bringing hands-on technology directly to those in need (Verizon, 2016). With that being said, this paper will be an informative piece that covers three noteworthy trends within the telecommunications industry that Verizon Wireless partake. The information gathered here will be used as background material for an upcoming discussion of Verizon’s strategic priorities.

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

Prior to the 21st century, most of the world’s communication was done via telephone or through face-to-face interaction. The advancement of the cell phone, the ease of emailing replaced the standard letter writing or silent immediate communication with texting. The instant access of a camera could capture moments never caught before. No longer did individuals in society have to wait until they arrived home to play video games, they could access their favorites through their phones or tablets. With the beginnings of such companies as US Cellular and Sprint, Verizon Wireless researched the models to analyze successes and failures to devise a business concept that would transcend location and time. Verizon Wireless is one company that is dedicated to “empowering people with revolutionary technology”. Verizon is considered one of the world’s largest cellular phone providers with the highest customer satisfaction rating. The headquarters is located in Basking Ridge, NJ and Verizon employs over 85,000 individuals around the world. The employees are considered one of the company’s greatest assets where each individual’s talent is valued. Employees hold positions in the fields of sales, customer service, management, technology and network positions.

This process helps a firm or organisation in focusing its marketing effort towards a specific segment or a group of segments. Depending on the product, organisational goals, the size of the firm and the marketing resources available a firm may target only one ‘niche’ segment or alternatively focus on several related segments. Another method can be to start with one segment and add more when business grows successfully. Large companies often target all market segments and try to serve them by offering a large variety of products to suit all their needs, wants and demands.

A firm's aim is to survive and grow. Marketing helps achieve this through marketing activities, for example the process of market segmentation leads to the identification of a suitable target market. This identification means firms can manipulate a series of controllable factors- price, place, promotion and product, otherwise known as the marketing mix to produce a positive response in their target market. However a firm must also take into account the marketing environment; these are factors outside the firm's control. These can influence a firm's relationship with their target market; ignoring them can have disastrous consequences.