Jan 20,2008- Chapter 2

Jan 20,2008- Chapter 2 - Principles of Marketing January...

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Principles of Marketing January 20, 2008 Four means of conducting market product Analysis: 1. Current market- consist of existing customers 2. New market- Consists of potential customers of a given demographic. 3. Current product- what consumers are all using 4. New product- a product that has just arrived on the market. Four market-product strategies to implement Market-Product analysis 1. Market penetration- marketing strategy of increasing sales of a present products on existing markets. 2. Market development- selling new products into new markets 3. Product development- Selling new products into new products into new markets. 4. Diversification- Developing new products and selling them in new markets. Value proposition: A set of benefits or value when a company promises to deliver to consumers to satisfy their demand. Situation analysis : When you take stock of where your firm or product has been recently, where it is now, and where it has potential to grow. SWOT analysis
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Jan 20,2008- Chapter 2 - Principles of Marketing January...

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