MKT 702 Study Guide - Hundred Days Offensive, Pincer Movement, Product Differentiation
Document Summary
To stay number one, firm must find ways to expand total market demand, protect current share through defensive and offensive action, and increase market share even if size remains consistent. New users among three groups: those who might use it but do not (market-penetration strategy), those who have never used it (new-market segment strategy), or those who live elsewhere (geographical-expansion strategy) Marketers can try to increase amount, level, or frequency of consumption: boost amount through packaging or product redesign (i. e. larger package size) Identifying additional opportunities to use the brand in the same basic way. Identifying completely new and different ways of using the brand. Defend current business through continuous innovation by being a front-runner lead in the industry in developing new products and customer services, distribution effectiveness, and cost cutting. Defensive marketing reduces probability of attack, divert attacks to less-threatened areas, and lessen their intensity. Market broadening shifts company"s focus from current product to underlying generic need.
