Priorizatation
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7 Conclusion
By following discussion and recommendation, Merbatty is sure to retain core-competitiveness in previous markets and gain more advantage in the increasing Middle East market., which accords with its strategy and 5-year plan.
Apendix:
Ansoff
Market Penetration
Merbatty’starhet markets are Europe and 43.63%
and a second on the West Coast of the USA. It has sales offices at the two boat building locations, staffed by Merbatty employees.
Market penetration strategy[pic], according to Ansoff, carries the lowest risk in comparison to the other strategies. This strategy is termed to be the least risky because of its use by a firm to advertise existing products and lure its existing customers to buy more products/services from them. For example, a company could advertise to its existing customers the benefits of upgrading their club membership from regular to VIP. By doing so, the amount of time and effort spent on selling a VIP-based club membership is significantly reduced.
Market Development
The market development strategy is significantly riskier in comparison to the Market Penetration Strategy. If a firm wants to acquire new customers and increase its market share, it will need to adopt the market development strategy. In this strategy, a firm does not sell new products to its new customers but just sells them its existing ones. For example, consider an electric[pic] car manufacturing company who has its base set up in Europe and opens a branch in Asia to increase the number of car sales and acquire new customers.
Product Development
Most firms do not try to build new products and sell them in the existing markets unless the credibility of a firm is established with its existing customers. This type of strategy is used generally by the firms that are well established in the market and enjoy a significant market share in comparison to the new entrants in the market. If a new entrant adopts this strategy, then it takes a higher risk...
By following discussion and recommendation, Merbatty is sure to retain core-competitiveness in previous markets and gain more advantage in the increasing Middle East market., which accords with its strategy and 5-year plan.
Apendix:
Ansoff
Market Penetration
Merbatty’starhet markets are Europe and 43.63%
and a second on the West Coast of the USA. It has sales offices at the two boat building locations, staffed by Merbatty employees.
Market penetration strategy[pic], according to Ansoff, carries the lowest risk in comparison to the other strategies. This strategy is termed to be the least risky because of its use by a firm to advertise existing products and lure its existing customers to buy more products/services from them. For example, a company could advertise to its existing customers the benefits of upgrading their club membership from regular to VIP. By doing so, the amount of time and effort spent on selling a VIP-based club membership is significantly reduced.
Market Development
The market development strategy is significantly riskier in comparison to the Market Penetration Strategy. If a firm wants to acquire new customers and increase its market share, it will need to adopt the market development strategy. In this strategy, a firm does not sell new products to its new customers but just sells them its existing ones. For example, consider an electric[pic] car manufacturing company who has its base set up in Europe and opens a branch in Asia to increase the number of car sales and acquire new customers.
Product Development
Most firms do not try to build new products and sell them in the existing markets unless the credibility of a firm is established with its existing customers. This type of strategy is used generally by the firms that are well established in the market and enjoy a significant market share in comparison to the new entrants in the market. If a new entrant adopts this strategy, then it takes a higher risk...