MKT 100 Lecture Notes - Lecture 2: Swot Analysis, Stolichnaya, Tiffany & Co.

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Polina Buchan

Document Summary

Mark et p enetration existing products in existing markets. The purpose of this strategy is the maintain or increase a company share of the current market or products. Encouraging new applications of this product or attract customers from rivals with marketing mix. I. e. rogers offering bigger data phone plans. The purpose of this is so that customer is used to using bigger data plan and is willing to pay for the plan when it expires. Companies can employ many strategies at the same time. Mark et d ev elopm ent existing products in new markets. Purpose of this strategy is to sell a product that is already exist to a market other than current customer that is a brand new market or brand new segment. This strategy is used when there are no new customers to be found that can be converted from the competition and/or usage is at it maximum.