Name and define the four product/market growth strategies in the product/market expansion grid. Provide an example of a company implementing each strategy?
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Name and define the four product/market growth strategies in the product/market expansion grid. Provide an example of a company implementing each strategy?
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- Marketing Mix Strategy 1: PRODUCT Using Product marketing mix elements, please provide: · brief analysis of the company’s current product strategy for their current market by analysing their: o product mix (The Table of their current product Mix) o 3 levels of product (please include the diagram) o PLC · recommendations for the company of what new product strategy that would best serve the new target market and be in harmony with the new positioning strategy developed in A1/2. What should they change in their product elements, so they can attract the new target market? Should they introduce a new product? New sub-brands? Modify their current products? How and why? Your recommendations should be detailed and actionable. Where is their product on the PLC. Explain! Include the picture and include a label with an explanationPlease choose a corporate brand and prepare the following table for the brand that you choose.(Brand options: Microsoft,Samsung,CocaCola)Discuss What makes the product stand out compared to competitors?
- Explain Ansoff’s Product-Market Expansion Grid? Give two examples of each with explanation.Using the product/market expansion grid, which approach has LEGO adopted under the leadership of Jochen? Is this different to past approaches?Using Apple for example: List one idea for your marketing plan project. Include the following information: 1. Company: which industry, core business, portfolio includes 2. New product you propose for that company: describe in detail, what need it satisfies, who’s the target market 3. Motivation for new product: why suitable for that company, what core competencies can be used, who are the competitors currently offering this product
- Please create the following: Marketing Strategy: - Product Strategy - Pricing Strategy - Distribution Strategy Note: details in the photo attachedAmong observations, interviews, and market research, what do you think is the topmost factor? How about the least factor? Why? Please explain. Do you agree that experience/exposure, time, and location are also factors in product development? Why? Please explain your answers per variable.Task 1. You are tasked to choose for one specific product and answer the following questions: 1. Who are qualified to be the market of this product? (Demographic Segmentation) 2. Why did you choose this product? Please explain briefly. (Behavioural Segmentation) 3. How will you know that this product is really valuable for the market? (Psychographic Segmentation) 4. Where can you easily locate the product? (Geographic Segmentation) 5. In your own opinion, what are some of the reasons why positioning is an important tool for competitive advantage? 6. How can a brand successfully positioned for consumers of several target markets? Explain your answer.
- Choose two competing products (e.g. Toyota and Honda) and sketch their brand hierarchy. Moreover, discuss the roles of key brands in the portfolio. hurry up, time is short.Assess the market potential of an innovative concept in terms of customer alignment and financial return.What has my company done in the past with its: Target markets?Products? Pricing? Promotion? Supply chain?