II Market development Sell product through e commerce Are the new customers

Ii market development sell product through e commerce

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II. Market development: Sell product through e-commerce. Are the new customers, these customers can anyone who want to buy BikeArt products as gifts to Industrial art collectors or Bicycling enthusiasts? III. Product development: Launch new products according to the need of the market. Is the same target customer, which are Industrial art collectors and Bicycling enthusiasts? Industrial art collectors: The industrial art collectors are characterized by people who collect art with an industrial edge. Bicycling enthusiasts: The bicycle enthusiasts are people that ride a lot and appreciate anything related to bicycles, including bicycle art pieces. 3. Overall benefits to the business of pursuing the opportunity Clearly outline the benefits to the business of each marketing opportunity
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I. Market penetration: Sell products at bargain prices. This option is to aim to increase market share by cutting the cost of products and aiming at mass appeal. Increasing sales by selling more of the product to the same people. The company can increase sales through consumers increasing consumption. The company can make more profit per customer. II. Market development: Sell product through e-commerce. This opportunity is to offer all products in an online store, sell to different market. The sales will increase by e-commerce. According to customer survey data, all surveyed customers would like to buy online and also willing to pay for online delivery if chosen- E-commerce could help BikeArt their market everywhere they want, not only in Eugene. III. Product development: Launch new products according to the need of the market. As the company's product portfolio increases, the sales volume will increase. Launch new products based on market demand can make the company's products more diversified, increase customer choice, enhance the company's competitiveness, and increase sales. 4. Anticipated effect of the marketing opportunity on sales, profitability, growth and market share Outline the anticipated effect for each marketing opportunity identified for sales, profitability, growth and market share. Use existing data in the Marketing Plan to calculate this. I. Market penetration: Sell products at bargain prices. Increasing sales by selling more of the product to the same people. The company can increase sales through consumers increasing consumption. Selling current products or services to the existing market in order to obtain a higher market share . Profitability will increase as more products are sold in the existing customer base. The company can make more profit per customer. II. Market development: Sell product through e-commerce. This opportunity is to offer all products in an online store, sell to different market. The sales will increase by e-commerce. Develop new markets and allow companies to enter new markets to ensure company growth. Through e-commerce to generate visibility within the art and cycling community to obtain a higher market share. After entering the new market, the company cannot ensure profitability in the short term, and it takes time for the company to grow
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rapidly After operating for several years in a new market, the company needs to ensure profitability.
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