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Marketing Strategies
The document discusses strategies for growing existing products and markets, launching new products, and diversifying business. When a current product is in the market, it can be grown by encouraging more purchases from existing customers, attracting customers from competitors, and convincing non-users. When launching a current product in a new market, distribution channels and locations can be expanded or potential new users identified. When a new product launches in an existing market, new features, quality levels, or technology can be improved. Diversification strategies include developing new products for new or existing customer segments using current or new technologies. The BCG matrix analyzes business units as question marks, stars, cash cows, or dogs based on market share and market growth to guide
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Marketing Strategies
- 1. Presented By: AsHraReHmat
- 3. • Our productis in the current market, it can still grow. 1. Encourage current customers to buy more. 2. Attract competitor's customers. 3. Convince non-users to use the product.
- 4. • When thecurrent product is launched in a new market, there are three approaches to develop the market: 1. Expand distribution channels. 2. Sell in new locations. 3. Identify the potential users.
- 5. • When anew product is launched in the current market, the intensive growth strategies could be to: 1. Develop new features. 2. Develop different quality levels. 3. Improve the technology.
- 6. • Diversification withnew products launched on new markets can be achieved by: • 1. Concentric Diversification Strategy: Developing new products for new market segments using the earlier technology. That is called concentric diversification strategy. • 2. Developing new products for new markets in a conglomerate diversification strategy. • 3. Developing new products for old customers, using new technology. This is called horizontal diversification strategy.
- 10. • Most businessstart of as question marks • They will absorb great amount of cash if the market share remains unchanged (low) • Question marks have potential to become star & evenly cash cow but can also become dog. • Investment should be high for question marks.
- 11. • Stars areleader in business • They also require heavy investment to maintain it’s large market share. • It leads to large amount of cash consumption & cash generation. • Attempts should be made to hold the market share otherwise the star will became a cash cow.
- 12. • They arefoundation of the company & often the stars of yesterday. • They generate more cash than required • They extract the profits by investing as little cash as possible • They are located in an industry that is mature not growing or declining
- 13. • Dogs arethe cash traps • Dogs do not have potential to bring • High cost – Low quality • Business is situated at a declining stage
- 14. benefits • BCGmatrix is simple & easy to understand • It helps to quickly & simply screen the opportunity open to you, & help you think about how you can make the most of them. • It is used to identify how corporate cash resources can best be used to maximize company’s future growth & profitability.