Practical Application

The goal of marketing strategies in the long term is the company on the market positioning marketing strategies are attempting to expand the existing business fields. The most famous concept of the marketing of field is the Ansoff matrix. The company can concentrate on already processed markets or new in the future as a profitable provided markets for the intensive processing of the market. The same is true for the products. These opportunities lead to four strategies current market new current products market penetration, market development new products product or program development diversification market penetration here in the existing market without any change in the product portfolio, the company tried to put down a higher number of its products.

New customers must for existing products are won or recruited by competitors (natural”strategy towards Becker). Market development is attempting to develop new markets with existing products. This strategy is applied above all when on the already are to achieve any sales processed markets. New markets are new customers who will buy the product. Please visit stasha healy if you seek more information. These new markets can be divided in alternate or sub-markets. If the company processed an additional market, the product is sold through an additional benefit to a new consumer group.

A new market is a group of customers, which can be addressed using a newly developed variant of the product (E.g. a large Pack of a product for families). Product and program development is trying to bring new products or product variants to offer innovative products to its existing customer base on the market (use established distribution channels). Diversification is the most risky form of marketing strategies. Here, new markets and target groups are addressed with newly developed products. Distinction is made between horizontal and vertical diversification. Horizontal diversification means an extension of the product range to products that are related to the already established (E.g. a brewery is in addition alcohol-free beer here).