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REPORT-Market strategies
To: Nestle and Cadbury
From: Abul Rahat
Re: Market strategies
Diversification--- diversification is when businesses create new versions of the same product for example nestle may create a kit kat ice cream and this is an example on how they will use diversification
Product development—product development is when a business bring in a new product into the market an example of this would be if nestle bought in a new product into the market like a new drink(milkshake)
Market penetration—marketing penetration happens when a business penetrates a market which currently products already exist.
Market development---market development is when it expands the potential market through new users or new uses. New users can be found in new geographic segments, new demographic segments, new institutional segments or new psychographic segments. Another way is to expand sales through new uses for the product.
Branding-- Branding mostly is a symbol that identifies a company or a person from the rest of its competitors. It gives customers an idea upfront on what services or products a company or person has to offer by just looking at their symbol/logo or names. Basically, associating the name and logo/symbol of a company to its underlying products or services.
Brand building---Brand building is when brands are built up using advertising techniques to help raise the popularity of the brand for example by putting on leaflets newspapers tv.
Positioning--- positioning has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization.
Brand extension-- A common method of launching a new product by using an existing brand name on a new product in a different category. A company using brand extension hopes to leverage its existing customer base and brand loyalty to increase its profits with a new product offering.
Transactional
To: Nestle and Cadbury
From: Abul Rahat
Re: Market strategies
Diversification--- diversification is when businesses create new versions of the same product for example nestle may create a kit kat ice cream and this is an example on how they will use diversification
Product development—product development is when a business bring in a new product into the market an example of this would be if nestle bought in a new product into the market like a new drink(milkshake)
Market penetration—marketing penetration happens when a business penetrates a market which currently products already exist.
Market development---market development is when it expands the potential market through new users or new uses. New users can be found in new geographic segments, new demographic segments, new institutional segments or new psychographic segments. Another way is to expand sales through new uses for the product.
Branding-- Branding mostly is a symbol that identifies a company or a person from the rest of its competitors. It gives customers an idea upfront on what services or products a company or person has to offer by just looking at their symbol/logo or names. Basically, associating the name and logo/symbol of a company to its underlying products or services.
Brand building---Brand building is when brands are built up using advertising techniques to help raise the popularity of the brand for example by putting on leaflets newspapers tv.
Positioning--- positioning has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization.
Brand extension-- A common method of launching a new product by using an existing brand name on a new product in a different category. A company using brand extension hopes to leverage its existing customer base and brand loyalty to increase its profits with a new product offering.
Transactional