Lec 5 developing the value offering Flashcards
1
Q
3 pricing strategy categories
A
cost leader: cheap, large audience
differentiation: unique service/ premium products, higher priced
focus or niche: lower price or narrow target market
2
Q
strategy for marketing exisiting products in existing market
A
market penetration
3
Q
strategy for marketing existing product in new market
A
market development
4
Q
define product development strategy
A
new product in an existing market
5
Q
define diversification strategy
A
emphasise new product and new market to achieve growth
6
Q
define market mix
A
a companies different products lines
7
Q
4 stages of product life cycle
A
introduction, growth, maturity and decline
8
Q
repositioning of product
A
same product targeting new market segment
