08 - Marketing Strategy - CHAPTER 8 MARKETING STRATEGY...

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CHAPTER 8 MARKETING STRATEGY
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MARKETING STRATEGY Internal Growth External Growth Niche Markets Market Positioning Multiple Revenue Streams Viral Marketing Guerrilla Marketing
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INTERNAL GROWTH Market Penetration – existing products in existing markets Product Development – new products in existing markets Market Development – existing products in new markets
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MARKET PENETRATION Use more of product Cross-sell products Take competitor’s business
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MARKET PENEETRATION EXAMPLES Prestone Anti-freeze permanent Arm & Hammer baking soda Put in fridge, replace with new, put in freezer Specialized box Budweiser beer
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PRODUCT DEVELOPMENT Bring out new products Modified products Modify existing products
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PRODUCT DEVELOPMENT EXAMPLES 2010 Honda Heinz purple ketchup 2010 designer clothes Things that are changing (tie designs)
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MARKET DEVELOPMENT going into new markets Expand geographical market Expand overseas Sell to new markets
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MARKET DEVELOPMENT EXAMPLES Yum! brands expand to India Pappas expands to Chicago Probably to big cities
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