29 March 2014
opportunities for growth in marketing
Ø Intensive Growth:
Opportunities in current Product Market.
Ø Integrative Growth:
Opportunities in other part of core - marketing system
Ø Diversification Growth:
Opportunities outside the core – marketing system
1 (A) MARKET PENETRATION:
1 ) Stimulate consumers to increase present rate of usage:
a) Increase unit of purchase.
b) Increase rate of production development & obsolescene.
c) Suggest new uses for the product.
d) Offer price incentives for increased use
2) Attract Competitors Customers:
a) Improving brand differentiation
b) Stepping up promotion.
3) Attract Non – Users
1( B) MARKET DEVELOPMENT :
1 ) Open additional geographical markets:
c) International Expansion.
2) Attract other market segments:
a) Developing product (suitable) versions.
b) Entering other channel of distribution.
c) Advertise in other media
1 (C) PRODUCT DEVELOPMENT :
1) New Product Features.
2) Create different Quality Versions.
3) Develop additional models and sizes
2 - Integrative Growth
(a) Basic industry that has strong growth future.
(b) Company increase profitability, efficiency or control by moving Backward, Forward or Horizontal in the industry
2.a) Backward Integration: - Company seeks ownership or increased control of its supply systems.
2.b) Forward Integration: - Company seeks ownership or increased control of (its) distribution systems.
2.c) Horizontal Integration: - Company seeks ownership or increased control of some of the competitors.