Market penetration From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search Market penetration is one of the four growth strategies of the Product-Market Growth Matrix as defined by Ansoff. Market penetration occurs when a company penetrates a market in which current or similar products already exist. The best way[citation needed] to achieve this is by gaining competitors’ customers (part of their market share). Other ways include attracting non-users of your product or convincing current
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3.1 Explain how market structure in the case above determine the pricing and output decisions of business 3.1.1 Market types • Perfect competition: - maybe called pure competition in which there are a lot of people and the same other conditions. On the other hand‚ people cannot affect to the price and everything is equal. (BPP 2010‚ page 246) ¬- There are 5 criteria perfect competition has to meet: 1. All firms sell an identical product. 2. All firms are price takers. 3. All firms have
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company‚ while weakness refers to the constraints in a company. Analyzing Woolworth’s strength and weakness: Woolworth operates retail stores by selling different kinds of products. It had a good reputation among all the supermarkets in the past of years. However‚ because of the increasingly competition‚ Woolworth’s revenues and market growth are affected by this changeable marketing environment. As the definition shows‚ it is necessary for marketers to identify the strength and weakness of
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Target Markets HealthPost has two different target markets: the primary target is the buyer or large hospital systems and health plans‚ the secondary target audience are the consumers or women under forty-five. HealthPost will provide through its online scheduling service provide timely access in order to maintain good medical outcomes and patient satisfaction. Large hospital systems are located nationwide such as HCA and Vanguard. Through the development of networking relationships‚ HealthPost
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Market Failure Government plays a vital role in creating the basic framework which fair and open for competitors in the market because competition plays a vital role in the economy. Competition is good but it also has to be fair. There are many benefits to competitions especially in the private sectors. However there are some markets that monopolise the economy which excruciating the price fixing and customer spending powers. Example; Gas and Electricity‚ Transport services and Oil and etc.
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Classification of market Market Definition According to Duddy and Reizan “ Market are people with money to spend and the desire to spend it.” According to Chapman “ The term market refers not to a place but to commodities ‚ buyers and sellers who are in direct competition with one another.” Classification of market • On the basis of area 1. Local Markets: it is confined to locality mostly dealing perishable and semi perishable goods like fish‚ flowers‚ vegetables etc. 2. Regional Market: covers a wide
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BENEFITS OF MARKET SEGMENTATION Gautam S Rashingkar Market Segmentation ● Dividing a market into smaller groups of consumers or organisations in which each consumer has a common characteristic such as a need or a want. ● It involves building up or breaking down of potential buyers into groups called market segments. ● By doing so the marketers will have a better understanding of their target audience and thereby make their marketing more effective BASIS OF MARKET SEGMENTATION 1. 2. 3
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In the futures markets‚ there is no assurance that a liquid market may exist for offsetting a commodity contract at all times. Some future contracts and specific delivery months tend to have increasingly more trading activity and have higher liquidity than others. The most useful indicators of liquidity for these contracts are the trading volume and open interest. There is also dark liquidity‚ referring to transactions that occur off-exchange and are therefore not visible to investors until after
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Market Pressure * In this era‚ businesses faces lots of pressure to grow and compete and one of them are market pressure. ‘Market pressures come from global economy and strong competition‚ the changing nature of the workforce and powerful customer’ (Turban‚ E. et al 2007‚ pg 33). I. Global economy and strong competition (a) Global economy ‘refers to an integrated world economy with unrestricted and free movement of goods‚ services‚ and labour transnationally’ (Economywatch
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Market Selection Market selection is very important to all companies that make international trade with other countries. The market selection process should result in a prioritized market portfolio‚ a prioritized list of markets worthy of investment and pursuit. Actually‚ the market selected must hold the growth potential needed to achieve the desired revenue objectives. Unfortunately‚ the market selection process is fraught with problems. Most of which can be tied directly to the way markets
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