Ch 11 and 12 Flashcards
Product approach to selling a product
Produce goods or services that the company instinctively believe are right, and therefore it is assumes that the consumer will want to buy them
Production approach to selling a product
Emphasis is on high volume production with low unit costs. Management pursue production and distribution efficiencies but there is little focus on customer needs
- can lead to low quality and excess being produced
Sales approach to selling a product
A sales push is required through aggressive marketing, the sales team and sales manager are at the core of the business
Marketing approach to selling a product
Getting the right product to the right customer at the right place and the right time.
Identify customers needs and produce products that match them
Ansoff Market Penetration
Increasing sales of existing products in existing markets
Ansoff market development
Selling existing products in new markets
Ansoff product development
Redesigning existing products or introducing new products for existing customers or markets
Ansoff diversification
Predicting new products for new markets (more risk)