management strategies to seek new business ops Flashcards
domestically:multiple branding
where one business sells multiple brands in the same market.
advantages of multiple branding
caters to brand switchers
less room for competitors products
saturates a market.
domestically:product differentiation
where a business uses brand names and advertising to establish key differences between products.
advantages of product differentiation
allows a business to stand out
domestically: franchising
allows one business to operate under the trading name of another business’s established brand and sell its products and services for a specified period.
advantages of franchising
allow a business to expand its operations
domestically:services offered by government
state governments can assist businesses to find business opportunities
globally:austrade
Australian trade and investment commission. to advance Australian international trade and education. achieved by making connections overseas.
advantages of Austrade
effective strategy for business wanting to go global
globally: online shopping
offers customers the ability to browse available goods and services via the internet.
advantages of online shopping
increases market share, allows whole world to be target market.
globally: exporting
function of international trade where goods and services from one country are shipped to another country for sale.
advantages of exporting
allows business to reach new markets
