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Coursework example - Chapter 8 Problems
Pages 3 (753 words)
Chapter 8 problems Name: Course: Question 2: In this case, the group having five different locations is more likely to exhibit the widest product base than the other three companies are. Such an organization strives to maintain its numerous markets in the three different locations a marketing feature that exhibits diversity thus compelling the company to have as many product and service bouquets as possible…
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Question 4: The introduction of a product into a new market is always the most difficult aspect of marketing; the target market has no information about the product and therefore requires as much information about the product as possible. Such is the predicament that faces ACO, which seeks to enter the Flint Michigan market. The company’s initial marketing strategy should assume a civil education structure with the company trying to educate and inform the target market of the presence and essence of its product. This implies that the new company will have to invest more money in running media adverts. The adverts should carry a lot of information about the products stressing the strengths and benefits of the products. When the company introduces a second product into the market, the marketing strategy must therefore change in order to incorporate the new product and permit it to claim its own market share. The new product will be a competition to the company’s initial product. Additionally, the new product portrays diversity a marketing strategy that will expand the company’s market share. The media messages for the two companies owing to the introduction of the new product must change. ...
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