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A product development strategy exists when the manager attempts to develop . For example, a product improvement may be when a new plant (cultivar) actually replaces an existing plant that is slipping in the marketplace.
As market situations and competition change, so must the marketing objectives. There are four basic market strategy positions including: (1) market penetration; (2) market development; (3) product development; and (4) diversification. This type of strategy may use a number of approaches.
For example, the manager may wish to increase the number of customers in present markets, or he may wish to increase the usage of particular plants of both present and potential customers.
One major point that needs to be emphasized here is that the situational analysis is an ongoing part of marketing planning.
Its purpose is to keep the manager aware of changes taking place inside and outside the business. Objectives provide targets for the direction and guidance of the marketing plan.
A diversification strategy occurs when the manager attempts to attract new groups of customers by moving into totally .
This might involve taking a new product or service to totally new markets that the company didn’t previously serve.
In addition, the manager also wants to prevent competitors from taking away present customers.
A market development strategy is one that attempts to find for the nursery’s existing product mix.
For example, a logical diversification for some nurseries may be landscape contracting or landscape maintenance.
With this approach, the manager hopes to move into markets not served with new products.